A look at the stocks making headlines on Tuesday
Qualcomm's longer term bet on the automotive sector as a lucrative customer base for its chips and related communications technology is getting a significant push today: The company announced that it is acquiring Autotalks, a fabless chipmaker out of Israel that builds semiconductor and system-on-a-chip technology to aid in automotive safety; sources tell us Qualcomm is paying between $350 million and $400 million for the startup.
Autotalks' tech is used in sensors that help vehicles (which can be bikes, cars or another form of mobility) and their drivers detect road hazards such as oncoming vehicles in a driver's blind spots; it also communicates with other vehicles using compatible tech to improve responsiveness. Qualcomm said the plan will be to integrate Autotalks' V2X (vehicle-to-everything) communication tech into its mobility-focused Snapdragon Digital Chassis portfolio.
The financial terms of the acquisition are not being disclosed, but a source close to the deal tells us that it's a $350-$400 million deal. We have contacted Qualcomm for a comment and will update as we learn more.
Autotalks, founded in 2009, has raised $110 million, according to data from PitchBook. Its many backers included a number of strategic investors such as Samsung, Hyundai and Toyota, as well as financial backers like Gemini Israel and Magma Venture Partners.
Qualcomm has picked up some interesting momentum in its automotive business to date, with customers including VW, General Motors, Mercedes-Benz, Cadillac, Honda and Stellantis. In September last year it claimed a $30 billion "design-win pipeline" in automotive — although that is a longer-term idea more than a solid concept. In more hard numbers, its QCT division (the core CDMA business covering mobile and wireless chips and related tech) saw automotive revenue of $975 million in FY21, and $1.3 billion in FY22.
It's not too much of a surprise to see Qualcomm scooping up a company like Autotalks. In the world of advanced automotive technology, safety has become one of the most important issues, but also one of the most lucrative opportunities, in the building of autonomous and driver-assisted systems. As a primary feature and solution most likely to be used by customers, it also becomes one that carmakers are most likely to invest in when designing newer car models, regardless of larger timelines for fully autonomous systems. So beefing up Qualcomm's capabilities and product range in this area is a logical next step.
“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,” said Nakul Duggal, senior vice president & GM, automotive, Qualcomm Technologies, in a statement. “We share Autotalks’ decades-long experience and commitment to build V2X technologies and products with a focus on solving real-world road user safety challenges. We look forward to working together to deliver global V2X solutions that will help accelerate time-to-market and enable mass market adoption of this very important safety technology.”
“It has been our mission to revolutionize safety for the transportation and automotive industry through our V2X solutions,” added Hagai Zyss, CEO of Autotalks. “We are confident that by combining our knowledge and expertise, we will not only deliver strong V2X products that will enhance transportation efficiency and safety for road users but will accelerate widespread adoption of V2X. We look forward to serving the auto industry together with Qualcomm and to bring the best technologies to market.”
This letter to the editor concerns double yellow lines in Mitchell's Road, Ryde.
Leaked video footage shows Ron DeSantis, the Florida governor, struggling with how he can take on Donald Trump without “p—[ing] off” the former president’s voters.
The company did not disclose the terms of the deal but said Autotalk's technology would be incorporated into its assisted and autonomous driving product, called Snapdragon Digital Chassis. Qualcomm said in September last year that its automotive business "pipeline", or potential future orders, rose by more than $10 billion to $30 billion since its third-quarter results were announced in late July, as automakers increasingly equip their cars with driver-assistance systems. The company, which has credited the jump to its Snapdragon Digital Chassis product, competes with Intel's Mobileye Global and Nvidia Corp for that slice of the market.
EVLI PLC STOCK EXCHANGE RELEASE ON MAY 8, 2023, AT 1:10 PM (EET/EEST) The Board of Directors of Evli Plc has in its meeting on April 25, 2023 approved request of shareholders to convert 18,000 Series A shares of Evli Plc to Series B shares in accordance with Article 4 in the Articles of Association. As a result of the conversion of shares, the company’s amount of Series A shares totals 14,467,148 and the amount of Series B shares totals 11,808,154. The conversion does not affect the total amount
location-based-entertainment-market-size.jpg location-based-entertainment-market-size.jpg Dublin, May 08, 2023 (GLOBE NEWSWIRE) — The "Global Location-based Entertainment Market Size, Share & Industry Trends Analysis Report By Technology , By Component, By End-use, By Regional Outlook and Forecast, 2022 – 2028" report has been added to ResearchAndMarkets.com's offering.The Global Location-based Entertainment Market size is expected to reach $14.3 billion by 2028, rising at a market growth of 28
Global Water Transport Market Global Water Transport Market Dublin, May 08, 2023 (GLOBE NEWSWIRE) — The "Water Transport Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering. This reportprovides strategists, marketers and senior management with the critical information they need to assess the market.The global water transport market grew from $544.7 billion in 2022 to $575.68 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The water transport ma
Copenhagen, May 08, 2023 (GLOBE NEWSWIRE) — Announcement no. 3-2023Annual Report The board of directors for the media tech company Hypefactors has approved the revised annual report for 2022. Revenue for the period amounted to DKK 9.384m, compared to DKK 6.787m in 2021, corresponding to an increase of 38%. Earnings before interest, tax, depreciation, and amortization (EBTIDA) amounted to a positive of 0.333m, compared to 2021 which showed a negative EBTIDA of DKK 2.073m. Hypefactors reached an
Thousands of free electric car chargers have been pulled from Britain's roads over the past year as soaring energy costs makes them unaffordable to offer.
Councils should check the weight limits on bridges to ensure they don’t collapse with heavier electric cars travelling across them, ministers have suggested.
The Porsche Cayenne, worth at least $70,000 new, was donated to the Car4Ukraine team that has retrofitted 244 civilian vehicles for frontline service.
Kemi Badenoch, the Business Secretary, is seeking an emergency meeting with Revolut over fears the $33bn (£26bn) technology company may abandon the UK amid frustration with high taxes and red tape.
A TEENAGE driver died following a crash involving three vehicles over the weekend.
A survey has revealed Britain’s "ambler gambler" hotspots – with a set of traffic lights on the A127 among the top 10 for motorists jumping the red light.
Bishal Malla was on his way back home after running some errands when his Tesla started shaking as he was about to enter the highway.
No sign of deposit flight, no sign of any unexpected deterioration in the loan book and no sign of any egregious risk-taking – and still no interest from the market.
The G7 views the tax change as an acknowledgement from the Kremlin that it will have to continue selling its oil at a discount for some time.
US investment bank believes inflationary pressures could force monetary policy committee’s hand
London's FTSE 100 has been in the doldrums for years, particularly since the technology revolution drew investors' cash to New York.
Tributes have been paid to one of the founders of Scotland's Charity Air Ambulance, who has died suddenly at the age of 54. Businessman John Bullough MBE was chairman of the SCAA, which has seen thousands of callouts since it was founded a decade ago. The former army officer – who was instrumental in the campaign to bring the Stone of Destiny back to Perth – died in London last week.
A double-decker boat carrying more than 30 passengers has capsized off a beach in southern India, killing more than 22 people, including children. Police officer Abdul Nazar said the rescue teams were expecting to recover more bodies from inside the boat after pulling it ashore from the muddy waters. The tourist boat capsized near the estuary of Poorappuzha River in Tanur, a coastal town in Kerala state’s Malappuram district, and most of the passengers were tourists.
