Qualcomm Inc. completed its acquisition of Swedish technology supplier Veoneer’s Arriver software stack last week, bolstering Qualcomm’s position in the burgeoning mobility area.
Qualcomm is not going to stop there.
“Qualcomm is committed to this market and sector for the long run, and this is just the beginning,” said Nakul Duggal, general manager of automotive at the company.
Duggal spoke with Automotive News on Monday, April 4, the day Qualcomm completed its acquisition of Arriver and its computer vision, driving policy, and driver assistance assets, which will be incorporated into Qualcomm’s Snapdragon Ride platform.
Qualcomm agreed to acquire Arriver as part of a deal with Veoneer and SSW Partners, a New York-based private equity firm that acquired the balance of Veoneer’s business.
Qualcomm stated that it would offer additional financial specifics regarding the deal during its next quarterly earnings call, while it was previously announced in October that SSW and Qualcomm would acquire Veoneer for a combined $37 per share, or around $4.5 billion.