Qualcomm closes Arriver acquisition to boost auto competitiveness
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Qualcomm (NASDAQ:QCOM) said on Monday that it has closed its acquisition of Arriver from SSW Partners, boosting the San Diego chipmaker's capabilities in autonomous driving.
First announced in October 2021, the deal will see Arriver's driver assistance assets become part of Qualcomm's Snapdragon Digital Chassis platform, allowing Qualcomm to offer a complete advanced driver assistance system, or ADAS, solution. 
âAs we become a key technology partner to the automotive industry, Arriverâs Driver Assistance assets will accelerate our efforts to deliver a leading, ADAS solution as part of our Snapdragon Digital Chassis platform,â said Nakul Duggal, senior vice president and GM, automotive, Qualcomm, in a statement. 
Qualcomm (QCOM) shares were little changed in early trading on Monday.
As part of the deal, Qualcomm will incorporate Arriver's assets into its Snapdragon Ride Platform and build on a previous collaboration with Arriver, which was previously owned by Veoneer (VNE).
Qualcomm (QCOM), led by Chief Executive Cristiano Amon, said it will discuss the deal further on its April 27, 2022 earnings call. 
On Friday, Qualcomm (QCOM) shares fell sharply after J.P. Morgan removed the semiconductor company from its Analyst Focus List and concerns popped up over the slowing Chinese smartphone market.