Qualcomm Abandons Bid to Buy Autotalks, FTC Welcomes Decision

Qualcomm has announced that it has terminated its proposed acquisition of Autotalks due to a lack of timely regulatory approvals. The U.S. mobile-phone chip maker had entered into the deal in May 2023 with the aim of strengthening its portfolio of Snapdragon chips for auto makers. However, the acquisition faced competition probes from the U.S. Federal Trade Commission and U.K. regulators.

Qualcomm Ends Proposed Acquisition of Autotalks #

Qualcomm has ended its proposed acquisition of Autotalks, citing a lack of regulatory approvals in a timely manner. The U.S. mobile-phone chip maker had signed the deal in May 2023 to strengthen its portfolio of Snapdragon chips for auto makers, but the proposed takeover faced competition probes from the U.S. Federal Trade Commission and U.K. regulators.