Qualcomm to acquire Israeli chipmaker Autotalks
Qualcomm said it will further deepen its automotive business by accelerating the adoption of V2X technology and strengthening its Snapdragon Digital Chassis portfolio. As for the specific details of the deal, Qualcomm did not elaborate.
Nakul Duggal, senior vice president of automotive at Qualcomm, said, "We have been investing in V2X research, development and deployment since 2017 and believe that as the automotive market matures, a standalone V2X safety architecture will be needed to improve safety for road users, as well as intelligent transportation systems."
According to the information, Autotalks primarily produces specialized chips in the field of autonomous driving for vehicle-to-vehicle (V2X) communication technology for smart vehicles, designed to improve road safety.
On May 3, 2023, FIT HON TENG, a subsidiary of Hon Hai, announced that it transferred its 2,270,900 shares in Autotalks (approximately 4.39% of Autotalks' issued share capital) to K2 Acquisition for a consideration of US$15 million. Upon completion of the transaction, Hongteng Precision will cease to be a shareholder of Autotalks.
With the increase in electric vehicles and autonomous features, the number of chips used by automakers has increased dramatically, making the automotive market a key growth area for chipmakers.And Qualcomm, as a world-renowned IC design company, has also been laying out its strength in the automotive sector in recent years. It is worth mentioning that in 2022 Qualcomm has said that its automotive business revenue has increased to $30 billion and has increased by more than $10 billion since the end of July 2022.
Now Qualcomm has acquired Autotalks again, which will hopefully strengthen its product line in the automotive chip field and further expand its revenue sources.