Qualcomm (NASDAQ: QCOM) today announced that its subsidiary, Qualcomm Technologies will aquire Autotalks, a fabless semiconductor company based out of Israel that has been dedicated to vehicle-to-everything (V2X) communications since 2009. The chip giant did not disclose the amount for which it has acquired Autotalks.
Through this acquisition, Qualcomm expects to integrate the “production-ready, dual mode, Autotalks standalone safety solutions” into Qualcomm’s “expanding Snapdragon Digital Chassis product portfolio” its “comprehensive set of cloud-connected automotive platforms.”
Nakul Duggal, SVP & GM, automotive, Qualcomm Technologies commented, “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.”
Analysts are cautiously optimistic about QCOM stock with a Moderate Buy consensus rating based on 14 Buys and six Holds.