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Qualcomm Technologies, Inc, a subsidiary of Qualcomm Incorporated has entered into a definitive agreement to acquire high-performance computing startup Nuvia.
Qualcomm will acquire Nuvia for approximately $1.4 billion before working capital and other adjustments.
Nuvia was founded by former Apple Inc veterans in 2019 who have previously worked on the A-series chip line that powers the iPhone and iPad, the Verge reported.
The acquisition is meant to help Qualcomm build on its Snapdragon technology and deliver “step-function improvements” in CPU performance and power efficiency. Qualcomm further emphasised on the need to build on its computing abilities to meet the demands of next-generation 5G computing.
“5G, the convergence of computing and mobile architectures, and the expansion of mobile technologies into other industries are significant opportunities for Qualcomm,” said Cristiano Amon, President and CEO-Elect, Qualcomm Incorporated.
“The NUVIA team are proven innovators, and like Qualcomm, have a strong heritage in creating leading technology and products. 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,” added Amon.
The tech giant is aiming to integrate NUVIA CPUs across its product portfolio including technologies that power flagship smartphones, next-generation laptops, and digital cockpits, as well as Advanced Driver Assistance Systems, extended reality and infrastructure networking solutions.
“Creating high performance, low-power processors and highly integrated, complex SoCs are part of our DNA,” said Jim Thompson, Chief Technology Officer of Qualcomm.
“Adding NUVIA’s deep understanding of the high-performance design and integrating NUVIA CPUs with Snapdragon - together with our industry-leading graphics and AI - will take computing performance to a new level and drive new capabilities for products that serve multiple industries,” Thompson said.
NUVIA founders Gerard Williams III, Manu Gulati and John Bruno, and their employees will be joining Qualcomm as part of the deal.
The announcement comes as Qualcomm awaits a change in leadership. Amon who is currently the President of the company will succeed Steve Mollenkopf as CEO, effective June 30, 2021.
The acquisition will also help Qualcomm get a leg up on competitors such as Intel. It will also help reduce its dependence on Arm Ltd which was acquired by competitor Nvidia in 2020.