The Autotalks Israeli startup has been acquired by the Qualcomm technologies of the US semiconductor giant. UU. Qualcomm. Inc. Unit. This is the second time that the two companies have reached an agreement. The first time, the agreement fell about a year ago, due to regulatory difficulties in the United States. The changes in the regulatory environment apparently brought to the parts back to the agreement, but at a different price.
Contrary to reports in the media describing an agreement “in the hundreds of millions of dollars”, “globes” has learned that the price of the agreement is only $ 80-90 million. This is substantial less than the price of $ 350 million in the original agreement.
The authorities in the United States investigated the agreement, which served as a negotiation card so that Qualcomm negotiated a lower price. According to Pitchbook, $ 110 million were invested in Autotalks about seventeen.
Autotalks is a V2X systems developer (vehicle to everything) that facilitate communications between a vehicle and its surroundings.
Investors in the company will not see great yield. Among them are active funds such as vintage and funds that are no longer active, such as Magma and Gemini.
The company also has several international investors, such as the Japanese company Mitsui, Hyundai and Samsung in South Korea, and some Saudi and Chinese money through Liberty Capital, headed by Steven Mnuchin, who was the Trumpmary of the Trump through Foxconn Interconnect Technology Limited (FIT). The automotive systems of Phoenix Holdings and DELEK were also mentioned in the past as investors in the company.
Despite the discomfort of the cane of the previous acquisition agreement, Autotalks has maintained more or less the size of its workforce. It currently has about 120 employees, 100 of them in its development center in Kfar Netter. As far as it is known, all employees will join Qualcomm.
