Qualcomm buys Israel’s Autotalks for beneath $100m
Israeli startup Autotalks has been acquired by US semiconductor large Qualcomm’s Qualcomm Applied sciences. Inc. unit. That is the second time that the 2 corporations have reached a deal. The primary time, the deal fell by way of over a 12 months in the past, due to regulatory difficulties within the US. Adjustments within the regulatory surroundings apparently introduced the events again to the deal, however at a special worth.
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Opposite to studies within the media describing a deal “within the a whole bunch of thousands and thousands of {dollars},” “Globes” has realized that the deal worth is $80-90 million solely. That is considerably much less that the $350 million worth within the authentic deal.
The authorities within the US investigated the deal, which served as a bargaining card for Qualcomm to barter a cheaper price. In keeping with PitchBook, $110 million have been invested in Autotalks over seventeen years.
Autotalks is a developer of V2X (car to the whole lot) programs that facilitate communications between a car and its environment.
The buyers within the firm is not going to see a big return. Amongst them are lively funds resembling Classic, and funds which might be not lively, resembling Magma and Gemini.
The corporate additionally has a number of worldwide buyers, such Japanese firm Mitsui, Hyundai and Samsung of South Korea, and a few Saudi and Chinese language cash by way of Liberty Capital, headed by Steven Mnuchin, who was US Secretary of the Treasury in President Donald Trump’s first administration, and thru Foxconn Interconnect Expertise Restricted (FIT). The Phoenix Holdings and Delek Automotive Programs have been additionally talked about prior to now as buyers within the firm.
Regardless of the upset of the cancellation of the earlier acquisition deal, Autotalks has roughly maintained the dimensions of its workforce. It at the moment has about 120 workers, 100 of them in its growth heart in Kfar Netter. So far as is thought, all the workers will be a part of Qualcomm.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on June 5, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
