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Jan. 13, 2021, 4:31 p.m. EST

Qualcomm plans $1.4 billion purchase of Nuvia

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By Emily Bary

Qualcomm Inc. announced Wednesday morning that it plans to purchase Nuvia, a computing-design company, for $1.4 billion.

The company expects to leverage Nuvia technology to strengthen its 5G offerings. Qualcomm /zigman2/quotes/206679220/composite QCOM -3.95% said in a release that Nuvia has “industry-leading expertise in high performance processors, systems on a chip (SoC) and power management for compute-intensive devices and applications.”

Shares of Qualcomm closed up 1.9% at $157.42 in Wednesday’s session.

Qualcomm anticipates that it will integrate central processing units (CPUs) from Nuvia into a broad range of products, including those powering smartphones, laptops, digital cockpits, and advanced driver-assistance systems.

“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,” Qualcomm Chief Technology Officer Jim Thompson said in a release.

The transaction is subject to closing conditions, including regulatory approval through the Hart-Scott-Rodino Antitrust Improvements Act of 1976, Qualcomm said.

Shares of Qualcomm have gained 24% over the past three months as the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.45% has risen 8.5%, and the PHLX Semiconductor Index /zigman2/quotes/210598361/realtime SOX -5.80% has gained 23%.

/zigman2/quotes/206679220/composite
US : U.S.: Nasdaq
$ 135.53
-5.57 -3.95%
Volume: 12.70M
Feb. 25, 2021 4:00p
P/E Ratio
23.17
Dividend Yield
1.92%
Market Cap
$160.29 billion
Rev. per Employee
$573,927
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/zigman2/quotes/210599714/realtime
US : S&P US
3,829.34
-96.09 -2.45%
Volume: 2.92B
Feb. 25, 2021 5:19p
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/zigman2/quotes/210598361/realtime
US : Nasdaq
2,999.16
-184.57 -5.80%
Volume: 228,228
Feb. 25, 2021 5:16p
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