Israel’s startup AutoTurk It was acquired by Qualcomm Technologies, a major US semiconductor company Qualcomm. Inc. Unit. This is the second time the two companies have reached a transaction. The transaction fell more than a year ago for the first time due to US regulatory difficulties. Due to changes in the regulatory environment, the parties appear to have returned to trade, but prices will vary.
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Qualcomm cancels its $350 million Autotalks acquisition
Contrary to media reports describing the “number of millions of dollars” transactions, “globe” has learned that the transaction price is only $80-900,000. That’s significantly less than the price of $350 million in the original transaction.
US authorities have investigated the transaction. This served as a negotiation card for Qualcomm to negotiate lower prices. According to Pitchbook, $110 million has been invested in Autotalks for 17 years.
Autotalks is the developer of V2X (all vehicle) systems that promote communication between vehicles and their surroundings.
The company’s investors will not make a big profit. Among them are aggressive funds such as vintages and inactive funds such as magma and Gemini.
The company also has Saudi Arabia and China funding through Japanese companies, Korean Japanese companies, several international investors such as Hyundai and Samsung, and through Liberty Capital. Liberty Capital is led by Stephen Munichin, the US secretary of President Donald Trump’s first administration and secretary to the Treasury via Foxconn Interconnect Technology Limited (FIT). Phoenix Holdings and Derequo Automotive Systems have also been mentioned in the past as investors in the company.
Despite the upset of cancellation of previous acquisition agreements, Autotalks has more or less maintained the scale of its workforce. Currently, there are approximately 120 employees, of which 100 are located in the KFAR Netter development center. All employees will participate in Qualcomm as far as known.
Published by Globes, Israel Business News – En.Globes.co.il – June 5, 2025.
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