Chipmaker Qualcomm Makes Offer for Car Technology Manufacturer

Chip company Qualcomm has made a $4.6 billion offer for car technology maker Veoneer. The board of the Swedish company previously supported a lower proposal of 3.8 billion dollars from the Canadian car company Magna.

 

Veoneer makes systems for self-driving cars. For example, the Swedes make it possible for drivers to drive a car without their hands on the wheel. They also make technology that helps prevent collisions.

In a letter to the board of Veoneer, Qualcomm CEO Cristiano Amon writes that his company Veoneer has long admired. “We believe that together we would be in a unique position to further fuel the industry’s competitiveness,” Amon wrote.

Veoneer was not immediately available for comment. Magna declined to comment.