Qualcomm Incorporated (NASDAQ: QCOM) yesterday said that its subsidiary, Qualcomm Technologies, Inc., has entered into a definitive agreement to acquire NUVIA for approximately $1.4 billion. NUVIA is a two-year old company viewed by analysts as a “high-performance computing startup.” According to Tech Crunch, the company, the brainchild of former Apple engineers, was launched after raising $53 million in a Series A funding in late 2019 and recently raised $240 million in its Series B notes.
“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. 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.”
“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 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.”
As part of the transaction, NUVIA founders Gerard Williams III, Manu Gulati and John Bruno, and their employees will be joining Qualcomm.