Qualcomm Inc, the U.S. chip giant, announced on Monday that it would acquire Autotalks Ltd, an Israeli company that specializes in vehicle-to-everything (V2X) communications technology.
V2X technology enables vehicles to communicate with each other and with the surrounding infrastructure, such as traffic lights and signs, to prevent collisions and improve traffic efficiency. V2X is seen as a key component of future autonomous and connected vehicles.
Qualcomm said that the acquisition would strengthen its automotive business, which has a pipeline of $30 billion in revenue opportunities. The company said it would integrate Autotalks’ solutions into its Snapdragon Digital Chassis product portfolio, which offers a range of features for car makers and suppliers, such as assisted and autonomous driving, infotainment and cloud connectivity.
“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 for enhanced road user safety, as well as smart transportation systems,” said Nakul Duggal, senior vice-president – automotive, Qualcomm Technologies.
The financial terms of the deal were not disclosed. Qualcomm said it expected to close the transaction by the end of 2023, subject to regulatory approvals and other customary closing conditions.
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