Last year, Qualcomm announced the acquisition deal of Autotalks, a company designing chips for vehicles, from Israel, worth around 350-400 million dollars. However, the deal fell through as Qualcomm stated that they have canceled the purchase plan due to regulatory disapproval within the agreed timeframe. Despite the deal being scrapped, Qualcomm emphasized that they will continue to focus on the automotive chip business as per their future plans. Although Qualcomm did not specify which country’s regulatory agency posed issues with the deal, the Competition and Markets Authority (CMA) in the United Kingdom announced their investigation into the details of the deal back in February, which may have been the reason for the setback.
Source: Reuters
TLDR: Qualcomm’s acquisition deal of Autotalks worth 350-400 million dollars was canceled due to regulatory disapproval, leading them to focus on the automotive chip business moving forward.
Leave a Comment