Salem Radio Network News Sunday, March 3, 2024

Business

UK’s CMA says examining Qualcomm’s buyout of Israel’s Autotalks

(Reuters) -Britain’s antitrust regulator on Friday said it was examining whether Qualcomm’s purchase of Israeli auto-chip maker Autotalks would lessen competition in the UK market.

The Competition and Markets Authority (CMA) has invited comments on the deal, which was announced in May.

Qualcomm had said it would acquire Autotalks, a maker of chips used in crash-prevention technology in vehicles, but had not disclosed the terms of the deal.

Autotalks, which makes dedicated chips used in the V2X communications technology sector for manned and driverless vehicles, would help Qualcomm expand its automotive business.

Last month, EU regulators said that the U.S. chipmaker would have to seek antitrust approval for the planned takeover, while Politico reported that the U.S. Federal Trade Commission (FTC) is expected to open an in-depth probe into the deal.

Qualcomm and Autotalks did not immediately respond to Reuters’ request for comment.

(Reporting by Eva Mathews in Bengaluru; Editing by Rashmi Aich and Dhanya Ann Thoppil)

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