CMA to review Qualcomm's proposed takeover of Autotalks

(Sharecast News) - The UK competition watchdog has invited comments on Qualcomm's proposed acquisition of Israel's Autotalks, it was confirmed on Friday. In a brief statement, the Competition and Markets Authority said it was considering whether or not the deal could lead to a "substantial lessening of competition" in the UK.

To help with its assessment, it has therefore invited comments from any interested parties ahead of its formal investigation starting.

US chipmaker Qualcomm first announced in May that it would acquire Autotalks, a specialist in vehicle-to-everything technology in manned and driverless vehicles, for an undisclosed sum.

The California-based firm wants to expand its car-related business, and said it would incorporate Autotalks into Snapdragon Digital Chassis, its assisted and autonomous driving portfolio.

Last year, Qualcomm said its automotive business pipeline had reached $30bn, as demand from car manufacturers for driver-assistance systems continued to grow.

European Union regulators have already stated that Qualcomm will need to secure antitrust approval for the deal to go ahead, however.

Qualcomm and Autotalks have have yet to comment on the CMA's announcement.