The News: Qualcomm Incorporated (NASDAQ: QCOM) today announced it has submitted an offer to acquire Veoneer for $37 per share, in an all-cash transaction. Our offer has been approved by Qualcomm’s Board of Directors, does not require Qualcomm stockholder approval, and has no financing conditions. Read the full press release in Qualcomm’s newsroom.
Analyst Take: This morning, Qualcomm announced an aggressive move, furthering its ambitions in the Automotive space as the company seeks to attract the support of Veoneer investors despite its recent decision to accept a lower bid via tier 1 Canadian-based tier 1 automotive supplier, Magna.
While Veoneer isn’t a household name, the company has an innovative breadth of offerings in the connected vehicle space, with Qualcomm likely most interested in its ADAS (advanced driver-assistance systems) that would instantly scale Qualcomm’s automotive offering.
Image Credit: Veoneer
A Deeper Dive: Why is Qualcomm After Veoneer?
Futurum Research provides industry research and analysis. These columns are for educational purposes only and should not be considered in any way investment advice. Neither the Author or Futurum Research holds any positions in any companies mentioned in this article.
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Image Credit: Qualcomm
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Daniel Newman is the Principal Analyst of Futurum Research and the CEO of Broadsuite Media Group. Living his life at the intersection of people and technology, Daniel works with the world’s largest technology brands exploring Digital Transformation and how it is influencing the enterprise. From Big Data to IoT to Cloud Computing, Newman makes the connections between business, people and tech that are required for companies to benefit most from their technology projects, which leads to his ideas regularly being cited in CIO.Com, CIO Review and hundreds of other sites across the world. A 5x Best Selling Author including his most recent “Building Dragons: Digital Transformation in the Experience Economy,” Daniel is also a Forbes, Entrepreneur and Huffington Post Contributor. MBA and Graduate Adjunct Professor, Daniel Newman is a Chicago Native and his speaking takes him around the world each year as he shares his vision of the role technology will play in our future.