US FTC Stated to Probe Qualcomm-Autotalks Deal: Learn Extra

The US Federal Commerce Fee (FTC) is anticipated to open an in-depth probe on Wednesday of Qualcomm’s buy of Israeli auto-chip maker Autotalks, Politico reported on Tuesday, citing folks conversant in the matter.

In Might, Qualcomm had stated it might purchase Israel’s Autotalks, a maker of chips utilized in crash-prevention expertise in automobiles, however had not disclosed the phrases of the deal.

Autotalks, which makes devoted chips used within the V2X communications expertise sector for manned and driverless automobiles, would assist Qualcomm develop its automotive-related enterprise.

Final week, EU regulators had additionally stated that the US chipmaker must search EU antitrust approval for the deliberate takeover.

The EU competitors watchdog stated 15 EU international locations, together with France, Eire, Italy, the Netherlands, Poland, Spain and Sweden, had requested it to look at the deal.

Qualcomm, Autotalks and the FTC didn’t instantly reply to requests for remark.

Earlier in August, Qualcomm had projected its fourth-quarter gross sales under market expectations as shopper spending on devices like smartphones remained stubbornly weak amid slowing world financial progress.

The US chipmaker stated Autotalk’s expertise could be included into its assisted and autonomous driving product, known as Snapdragon Digital Chassis.

Qualcomm stated in September final yr that its automotive enterprise “pipeline”, or potential future orders, rose by greater than $10 billion (roughly Rs. 82,100 crore) to $30 billion (roughly Rs. 2,46,100 crore) since its third-quarter outcomes had been introduced in late July, as automakers more and more equip their automobiles with driver-assistance methods.

The corporate, which has credited the leap to its Snapdragon Digital Chassis product, competes with Intel’s Mobileye International and Nvidia for that slice of the market.

© Thomson Reuters 2023

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)