Qualcomm announced today that it will acquire high-performance chip company, NUVIA Inc., for approximately $1.4 billion. NUVIA was founded by former Apple chip engineers responsible for its A series of chips for the iPhones and iPads.
NUVIA will be incorporated into Qualcomm's subsidiary, Qualcomm Technologies, to help build processors for future smartphones, laptops, and digital cockpits. The acquisition is also expected to benefit the chip giant's "Advanced Driver Assistance Systems, extended reality, and infrastructure networking solutions".
Regarding the acquisition, Cristiano Amon, President and CEO-Elect of Qualcomm, said:
“5G, the convergence of computing and mobile architectures, and the expansion of mobile technologies into other industries are significant opportunities for Qualcomm. The NUVIA team are proven innovators, and like Qualcomm, have a strong heritage in creating leading technology and products. I am very excited to have them join our team.Together, we are very well positioned to redefine computing and enable our ecosystem of partners to drive innovation and deliver a new class of products and experiences for the 5G era.”
As part of the deal, NUVIA co-founders Gerard Williams III, Manu Gulati, and John Bruno will join Qualcomm along with their employees. Williams, the CEO of NUVIA, was formerly a senior director and chief CPU architect at Apple for nearly a decade. Similarly, Gulati and Bruno previously played a key role in Apple's chipset architecture.
In late 2019, NUVIA raised $53 million during its Series A funding round led by Capricorn Investment Group, Dell Technologies Capital, Mayfield, and WRVI Capital. Last year, it closed another funding round where it raised $240 million.
Qualcomm didn't say when the transaction is expected to close. For now, it's awaiting customary closing conditions and other regulatory approvals.