3 Reasons Qualcomm's Acquisition of Veoneer Could Make It an Unstoppable Connected Car Stock
A more connected mobile world is being built in earnest. However, a key piece of consumer hardware squarely in technology companies' crosshairs is vehicles. Often running on chips and circuitry that are decades old, many automakers are scrambling to get their models up to date with the latest in connectivity, electric drivetrains, and advanced driver assistance systems (ADAS).
To that end, it shouldn't go unnoticed that Qualcomm (NASDAQ: QCOM) and investment firm SSW Partners just reached a definitive agreement to acquire auto tech company Veoneer (NYSE: VNE). The deal values the small technologist at $4.5 billion (to be paid as $37 per share in cash to Veoneer shareholders). This buyout could let Qualcomm, a leader in mobile chips for smartphones and related devices, seriously ramp up its presence on the road. Here are three reasons why.
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