Qualcomm announced acquisition of startup Nuvia for $ 1.4 billion

Qualcomm announced acquisition of startup Nuvia for $ 1.4 billion

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With 5G race tracking, Qualcomm Include Announced an acquisition that was not trivial to call its own. Chip giants, one of the global leaders in 5G, said on Wednesday (13/01) that its subsidiary, Qualcomm TechnologiesProcessor manufacturer signed a definitive agreement to acquire Bride For about 1.4 billion dollars.

Also read: Cristiano Amon named Qualcomm’s global CEO

Nuvia is a young startup based in the United States and founded by former Apple engineers. Founders Gerrard Williams, Manu Gulati and John Bruno and their employees will join Qualcomm upon completion of the acquisition.

According to information from TechcrunchThe company was growing rapidly and in a short period of time – just two years of existence. The startup raised $ 53 million in a Series A round in late 2019 and another $ 240 million later.

According to Qualcomm, Nuvia’s technology will be incorporated into the company’s chip line, led by its Snapdragon chip focusing on 5G.

“5G, Qualcomm has significant opportunities for convergence of computing architecture and expansion of mobile technologies in other areas,” said Cristiano Amon, President and CEO of Qualcomm Incorporated. “NUVIA’s team is innovative and, like Qualcomm, has a strong legacy in creating cutting-edge technology and products. I am very excited to join our team. Together, we are very well positioned to redefine computing and allow our partner ecosystems to drive innovation and provide a new class of products and experiences for the 5G era. “

The transaction is subject to customary closing conditions.

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About the author: Sarah Gracie

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