On Friday night, US chip large introduced the cancelation of its acquisition of Israeli car chip firm Autotalks. The acquisition for an estimated $350 million was canceled after a far reaching probe by the UK Competitors and Markets Authority.

The British antitrust regulator has expressed creativity and boldness in canceling merger and acquisition offers just lately. The most important and most important of those cancelations being that of Adobe and Figma, which have been alleged to merge in a $20 billion greenback deal, however as a result of strain from the authorities in Europe and the UK, the merger was cancelled final December.

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Qualcomm buys Israeli car chip co Autotalks

It isn’t clear exactly what led to the cancellation of the deal by which Qualcomm was supposed to purchase Autotalks, a chip firm energetic within the small area of interest of direct communication between autos. That is an rising discipline enabling autos to convey knowledge to one another.

The cancelation of the deal is an enormous disappointment for Autotalks 126 workers. Lots of them are veteran workers who’ve been with the corporate all through the 16 years by which it has fought large corporations to advertise communications protocols for communications between autos. The acquisition by Qualcomm had appeared like a victory over the market.

Printed by Globes, Israel enterprise information – en.globes.co.il – on March 23, 2024.

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