Qualcomm Ends Autotalks Deal Over Antitrust Concerns, FTC Says
Qualcomm Inc. abandoned a deal to buy semiconductor firm Autotalks Ltd. after regulators expressed antitrust concerns, the U.S. Federal Trade Commission said in a statement Monday.
(Bloomberg) -- Qualcomm Inc. abandoned a deal to buy semiconductor firm Autotalks Ltd. after regulators expressed antitrust concerns, the US Federal Trade Commission said in a statement Monday.
European, UK and Israeli antitrust regulators were also investigating the deal.
Qualcomm announced the deal with Israel’s Autotalks in May without disclosing a price. The deal would have combined two of the biggest makers of “vehicle-to-everything” or V2X semiconductors. This type of semiconductor is used in automobiles to help reduce collisions and improve mobility.
“This is a win for car buyers seeking quality, affordable cars with V2X communication capabilities that promise to make driving easier and safer,” Henry Liu, director of the FTC’s Bureau of Competition, said in a statement.
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