Qualcomm – a company that we associate mainly with Snapdragon processors for Android smartphones.
Who is Qualcomm fighting against?
In recent days as a main buyerMagna International was born, offering $ 3.6 billion to close the deal. However, at the last moment, Qualcomm increased that figure by another $ 800 million. Their official offer to buy the Swedish manufacturer is $ 4.6 billion.
Thus, Veoneer shares are valued at 37dollars. Representatives of the board of directors have already approved the improved proposal. There is no word yet on whether Magna plans to make a better deal for Veoneer's business.
Why does Qualcomm need this company?
The Swedish company develops advanced systemsdriver assistance and specialized software that allows vehicles to make autonomous decisions. In this way, Veoneer's systems make it easy to change lane on motorways, park and stop in the event of an accident.
Bidding between Qualcomm and Magna is ongoing fordominance in the field of ADAS technologies. These two companies want to become more serious competitors to Continental and Bosch. Qualcomm has a market value of nearly $ 165 billion, while Magna's business is valued at around $ 25 billion.
Source: techcrunch
Illustrations: veoneer
</ p>