Qualcomm said to buy Israeli car chip manufacturer Autotalks
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In an effort to grow its automotive business, Qualcomm (NASDAQ:QCOM) announced to acquire Israel's Autotalks Ltd, which produces chips used in technologies aimed at reducing car collisions, Reuters reported Monday.
The acquisition will be made through the company's subsidiary Qualcomm Technologies.
Financial terms of the deal were not disclosed.
Autotalks produces customised chips for use in V2X communications technology for human and autonomous automobiles to improve road safety.
"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," Nakul Duggal, senior vice-president - automotive, Qualcomm Technologies, said in a statement.
The company stated that it will add Autotalks' solutions to its Snapdragon Digital Chassis product line.
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