Qualcomm Inc. will acquire Nuvia Inc., a chip startup founded by Apple veterans, for $1.4 billion, according to release. The company plans to put the firm’s technology into its smartphone, laptop, and automotive processors.
- Qualcomm’s deal marks a big push by the company to re-establish a leading position in chip performance after years of high-profile patent licensing litigation with Apple and regulatory authorities.
- The deal announcement comes amid a change of Qualcomm leadership with its current president and head of Silicon division Cristiano Amon set to replace outgoing CEO Steven Mollenkopf on June 30.
- The Nuvia deal is expected to empower Qualcomm’s customers across the Windows ecosystem and lessen the company’s reliance on Arm Ltd, which is a target acquisition by Nvidia Corp for $40 billion.
Qualcomm stock is currently gaining. QCOM: NASDAQ is up 0.23%
