Qualcomm mentioned on Monday that it’ll buy a part of auto elements provider Veoneer in a transaction valued at $4.5 billion, because the chipmaker dives deeper into the automobile market.
Qualcomm is teaming up with funding agency SSW Companions to finish the transaction. Qualcomm will purchase Veoneer’s Arriver enterprise, which is concentrated on laptop imaginative and prescient, drive coverage and driver help, in response to a press launch. SSW will retain the remainder of Veoneer, seeking to promote it in items.
Previous to Monday’s deal, Veoneer had agreed in July to be purchased by Magna Worldwide for $31.25 a share.