Mubasher: Mobile-phone chipmaker Qualcomm Inc said an agreement to acquire NUVIA, a chip startup founded by three of Apple’s top executives, for about $1.4 billion, before working capital and other adjustments.
“NUVIA CPUs [central processing units] are expected to be integrated across Qualcomm Technologies' broad portfolio of products, powering flagship smartphones, next-generation laptops, and digital cockpits, as well as Advanced Driver Assistance Systems, extended reality and infrastructure networking solutions,” according to a statement on Wednesday.
The agreement is subject to customary closing conditions, including regulatory approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
“The acquisition of NUVIA builds on Qualcomm Technologies' Snapdragon technology leadership, delivering step-function improvements in CPU performance and power efficiency to meet the demands of next-generation 5G computing.”
Under the deal, NUVIA founders Gerard Williams III, Manu Gulati and John Bruno, as well as their employees will join Qualcomm.