Israeli startup Autotalks has been acquired by US semiconductor big Qualcomm’s Qualcomm Applied sciences. Inc. unit. That is the second time that the 2 firms have reached a deal. The primary time, the deal fell via over a 12 months in the past, due to regulatory difficulties within the US. Modifications within the regulatory atmosphere apparently introduced the events again to the deal, however at a distinct value.
RELATED ARTICLES
Opposite to reviews within the media describing a deal “within the a whole lot of tens of millions of {dollars},” “Globes” has realized that the deal value is $80-90 million solely. That is considerably much less that the $350 million value within the unique 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 had been invested in Autotalks over seventeen years.
Autotalks is a developer of V2X (car to the whole lot) methods that facilitate communications between a car and its environment.
The buyers within the firm won’t see a big return. Amongst them are energetic funds akin to Classic, and funds which can be now not energetic, akin to 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 via Liberty Capital, headed by Steven Mnuchin, who was US Secretary of the Treasury in President Donald Trump’s first administration, and thru Foxconn Interconnect Know-how Restricted (FIT). The Phoenix Holdings and Delek Automotive Programs had been additionally talked about previously as buyers within the firm.
Regardless of the upset of the cancellation of the earlier acquisition deal, Autotalks has kind of maintained the scale of its workforce. It at present has about 120 staff, 100 of them in its growth middle in Kfar Netter. So far as is thought, all the workers will be part of Qualcomm.
Printed by Globes, Israel enterprise information – en.globes.co.il – on June 5, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
