June 3, 2023

South Sudan News Agency

Complete English News World

Qualcomm acquires Israeli auto-chip maker Autotalx

(Reuters) – Qualcomm Inc (QCOM.O) said on Monday it will acquire Israel’s Autotalks Ltd, a maker of chips used in vehicle crash prevention technology, as the US company looks to expand its auto business.

The company didn’t disclose terms of the deal but said Autotalk’s technology will be integrated into its assistive and autonomous driving product, called the Snapdragon Digital Chassis.

Qualcomm said in September last year that its auto business “pipeline,” or potential future orders, had risen by more than $10 billion to $30 billion since reporting third-quarter results in late July, as automakers increasingly equip their cars with help. the driver. systems.

The company, which has credited the leap to its Snapdragon digital architecture product, is competing with Intel’s Mobileye Global (MBLY.O) and Nvidia Corp. (NVDA.O) for that market segment.

Revenue from Qualcomm’s automotive business rose 20% to $447 million in the second quarter ended March 26.

Autotalks manufactures custom chips used in vehicle-to-everything (V2X) communications technology for manned vehicles and drivers to improve road safety.

Additional reporting by Sheena K. Thomas and Shubham Kalia in Bengaluru and Stephen Nelis in San Francisco; Edited by Rashmi Aish

Our standards: Thomson Reuters Trust Principles.

See also  After Elon Musk's ultimatum, Twitter employees start to walk out