Qualcomm To Acquire Auto Chipmaker Autotalks For Undisclosed Terms - Qualcomm (NASDAQ:QCOM)

Qualcomm Inc QCOM subsidiary, Qualcomm Technologies, Inc, has agreed to acquire Autotalks. The financial terms of the transaction remain undisclosed.
The automotive industry continues to evolve at an unprecedented rate, driven by innovation and digital technologies. The popularity of electric and automated vehicles has triggered higher demand for chips.
Autotalks is a fabless semiconductor company dedicated to vehicle-to-everything (V2X) communication technologies.
Combining Autotalks' expertise and products with Qualcomm's 20 years of automotive industry experience and commitment to V2X aims to help accelerate the development and adoption of V2X solutions to improve traffic efficiency and help with driver and road user safety.
The acquisition will help to incorporate the production-ready, dual-mode, Autotalks standalone safety solutions into Qualcomm Technologies' expanding Snapdragon Digital Chassis product portfolio, the company's comprehensive set of cloud-connected automotive platforms.
Qualcomm has been steadily building up its automotive business in recent years, and in September, it said its automotive business "pipeline" increased to $30 billion.
Price Action: QCOM shares closed higher by 2.06% at $108.78 on Friday.
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