May 8, 2023 - Economy

Qualcomm buying Israeli startup to help prevent car crashes

Dan Primack

Illustration of car circuit board — Illustration: Eniola Odetunde/Axios

Qualcomm on Monday said it has agreed to buy Autotalks, an Israeli maker of "vehicle-to-everything" communications chips, with a focus on preventing crashes.

Why it matters: This reflects how big chipmakers continue to view vehicles as a key growth area, given increased automation and complexity.

For Qualcomm, that's reflected in a 33% revenue increase for its auto segment between fiscal 2021 and fiscal 2022, and a September announcement that its auto "pipeline" had ballooned to $30 billion.

ROI: No financial terms were disclosed, but TechCrunch reports a sale price of between $350 million and $400 million.

Autotalks had raised around $110 million in VC funding from firms like Samsung, Toyota, Magenta Venture Partners, Vintage Investment Partners, Gemini Israel Ventures, Global Investment Group and Liberty Ventures.

More, per TechCrunch: "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."

Add Axios on Google

Qualcomm buying Israeli startup to help prevent car crashes

What to read next