Qualcomm Inc. last week closed on its acquisition of Swedish tech supplier Veoneer’s Arriver software stack, giving the tech giant a larger foothold in the emerging mobility space.
Don’t expect Qualcomm to stop there.
“Qualcomm is focused on this market and this space for the long haul, and this is just the start,” said Nakul Duggal, the company’s general manager of automotive.
Duggal spoke with Automotive News on Monday, April 4, the day Qualcomm finalized the acquisition of Arriver and its computer vision, drive policy and driver-assistance assets, which will be integrated into the company’s Snapdragon Ride platform.
Qualcomm agreed to buy Arriver as part of a deal with Veoneer and New York private equity firm SSW Partners, which bought the remainder of Veoneer’s business.
Qualcomm said it would provide more financial details about the deal in its next quarterly earnings call, though it was reported in October that SSW and Qualcomm would purchase Veoneer in total for $37 per share, or about $4.5 billion.