FILE PHOTO: A Qualcomm sign is pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. REUTERS/Aly Song

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Qualcomm Technologies has announced it will acquire Nuvia, a two-year-old chip startup company established by former Apple executives, for $1.4 billion.

The California-based chipmaker said Wednesday it plans to use Nuvia’s technology in its flagship smartphones, next-generation laptops, auto components and other electronics gear.  

The acquisition agreement comes as Qualcomm doubles-down on chip performance and consumer demand grows for more powerful mobile computing with the rollout of the faster and more reliable 5G wireless networks. 

Read more: What is 5G? Here’s what you need to know about the latest cellular network generation

It also comes during a period of change at Qualcomm. Earlier this month, the company announced Steve Mollenkopf was retiring as CEO and will be replaced by current President Cristiano Amon. Mollenkopf has worked for the chip-making giant for 26 years, and became CEO in 2014.

Nuvia founders Gerard Williams III, John Bruno, Manu Gulati, and their employees will be joining Qualcomm, according to the press release. 

Nuvia has been developing custom CPU core design for servers, but Qualcomm said it intends to inter grate the technology broadly. “NUVIA CPUs are expected to be integrated across Qualcomm Technologies’ broad portfolio of products, powering flagship smartphones, next-generation laptops, …read more

Source:: Businessinsider – Tech


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