Qualcomm Inc said that it would acquire Israel's Autotalks Ltd, a maker of chips used in crash-prevention technology in cars, as the US wireless-chip giant looks to expand its automotive-related business.
This puts Autotalks among other impressive Israeli start-up exits, including Waze’s $1.1 billion acquisition by Google in 2013, Mobilieye’s $15.3 billion acquisition by Intel in 2017, and Mellanox’s $6.9 billion acquisition by Nvidia in 2019, according to The Jerusalem Post.
Through the Autotalks deal, the San Diego, California-based semiconductor and wireless technology company will seek to boost its vehicle-to-everything communication technology, and enable less fuel consumption and smarter cars.
Qualcomm shares were down 0.4% at $108.39 on Monday.
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