• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 10, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Tech Automobiles

Qualcomm interests itself in buying automotive company-Veoneer, offers $4.6B

by Chhavideep Singh
August 6, 2021
in Automobiles, Business, Tech, World
Reading Time: 2 mins read
0
Veoneer
TwitterWhatsappLinkedin
Veoneer
Source: Automotive News

Qualcomm, as we all know, is the world’s leading chip-maker. It designs, manufactures, and markets processor chips and other wireless technology products including telecommunication services and more. Most of us use Qualcomm’s chip every day through our Android smartphones with Qualcomm Snapdragon processors. However, you must have noticed that when we talk about Qualcomm, it only revolved around telecommunications products and that is because it is its niche and according to recent reports, the chip company intends to expand and put some of its eggs in the automotive industry.

You might also like

Poland to Report Grok to EU Over Chatbot’s “Offensive Comments” on Politicians

Turkey Bans xAI’s Grok Over Offensive Content, Including Insults to President Erdoğan

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

Yes, you read that right! Qualcomm is reportedly showing keen interest in acquiring Veoneer, a Stockholm-based automotive company that produces control units, sensors, software and deals with advanced technology for Advance Driving Assistance Systems a.k.a. ADAS.

The chipmaker has reportedly offered to buy the company for USD 4.6 billion which is higher than the offer made by rival Magna International Inc. It is a bidding war out there between Qualcomm and Magna International for the automotive technology company, Veoneer Inc.

As mentioned in a report by Bloomberg Quint, Qualcomm is offering to acquire Veoneer at USD 37 apiece that makes it an 18 percent premium as opposed to Magna International’s USD 31.25 per share bid. For Magna International, the total deal for buying out the technology company would suffice at USD 3.8 billion. Thus, at this point, Qualcomm’s USD 4.6 billion offer at USD 37 per share makes more sense for Veoneer, according to experts.

Qualcomm, a company that has already established itself in the technology hardware industry will gain more from acquiring Veoneer as it will get a firmer foothold in the emerging driver-assistance technology. Autonomous cars and hands-free driving assistance technology are the future of autonomy in the automotive industry and Qualcomm has everything to gain from the emerging market, consider if it is successful in acquiring Veoneer with its Advance Driving Assistance Systems.

Automotive products accounted for approximately 3 percent of chip sales last year and the industry analysts are speculating this number to increase significantly year on year. As mentioned in a report by Bloomberg and noted in Transport Topics, Qualcomm Chief Executive Officer, Christiano Amon says that the company’s interest in Veoneer was majorly driven by its software unit- ‘Arriver’, which enables a car to perceive and make driving decisions autonomously without human input.

Furthermore, Veoneer confirmed that it received Qualcomm’s offer to acquire the company and its board is currently evaluating the proposal. The automotive technology company also confirms to be complying with all legal obligations in the terms of its agreement with Magna International and has agreed to pay a $110 million break-up fee to Magna, if the company receives and agrees to a better proposal.

 

 

Tags: acquisitionbidding warMagna InternationalQualcommVeoneer
Tweet54SendShare15
Previous Post

Walter Isaacson is writing Elon Musk’s biography, Musk confirms

Next Post

ByteDance lays off hundreds thanks to Beijing’s crackdown

Chhavideep Singh

Hi! I'm Chhavideep, If you like reading about technology, business and start-ups, you've come to the right place. Catch me: [email protected]

Recommended For You

Poland to Report Grok to EU Over Chatbot’s “Offensive Comments” on Politicians

by Sneha Singh
July 10, 2025
0
Poland to Report Grok to EU Over Chatbot's "Offensive Comments" on Politicians

Poland has taken a direct move against hate speech generated by AI after announcing plans to officially report Elon Musk's AI chatbot, Grok, to the European Union. The...

Read more

Turkey Bans xAI’s Grok Over Offensive Content, Including Insults to President Erdoğan

by Sneha Singh
July 10, 2025
0
Turkey Bans xAI's Grok Over Offensive Content, Including Insults to President Erdoğan

Turkey is the first nation in the world to have banned an AI chatbot, blocking access to xAI's Grok after it generated insulting material about President Recep Tayyip...

Read more

Trump Unleashes New Tariffs, Sri Lanka Among Seven Nations Facing 30% US Duties

by Anochie Esther
July 10, 2025
0
NRIs

US President Donald Trump on Wednesday, July 9, 2025, announced a fresh wave of tariff demand letters, signaling a renewed and assertive push in his administration's trade policy....

Read more
Next Post
bytedance-featured-

ByteDance lays off hundreds thanks to Beijing's crackdown

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?