Veoneer

Veoneer - develops hardware and software components to create advanced driver assistance systems that allow cars to work in partially offline mode.

History

2021: Qualcomm and SSW Partners bought Veoneer for $4.6 billion

On October 4, 2021, Qualcomm and investment company SSW Partners announced the purchase of the Swedish technology developer for smart cars Veoneer as part of a deal worth $4.6 billion. This acquisition is aimed at expanding Qualcomm's presence in the automotive market.

The deal values Veoneer with a solid premium of 86% to its last trading value before it became known that the company was considering selling. Representatives of Qualcomm said they expect the completion of the transaction to acquire Veoneer in 2022.

Qualcomm buys Veoneer to purchase the Arriver division. According to the terms of the acquisition, the investment company SSW Partners with which Qualcomm cooperates in the transaction will acquire all outstanding shares of Veoneer. After closing the deal, SSW Partners will sell Arriver to Qualcomm.

Arriver was launched in 2020 as a joint venture between Veoneer and Qualcomm. The purpose of the division is to develop a software and hardware complex that can be installed on cars to equip them with partial autonomous driving functions. In the long term, Arriver will work to create a technology that will allow cars to work in a fully automated mode.

Qualcomm and SSW Partners acquired Veoneer for $4.6 billion

In March 2021, Arriver announced that its immediate goal is to develop a system capable of providing third-level autonomy by 2024. Cars with third-level autonomy can work without any human involvement in many cases, but in certain situations they still require driver participation. Arriver will create a system by combining Qualcomm hardware software with () ON for autonomous driving from Veoneer.

Arriver is also developing new data pooling software that will help its autonomous driving system convert information from car sensors to control solutions. Arriver experts clarified that data fusion software will be able to use information from lidar and radar, as well as from thermal and ultrasonic sensors. As for hardware, Arriver's autonomous driving stack uses Qualcomm's Snapdragon Ride chip-based systems to process data.

The acquisition of Arriver will allow Qualcomm to introduce artificial intelligence (AI) algorithms and other autonomous driving software. As a result, Qualcomm will be able to offer automakers creating autonomous cars, not only their Snapdragon Ride chips, but also an extensive set of software tools. Such an integrated, versatile product portfolio can simplify the development of cars for automotive customers by reducing the number of components that they need to create independently and in the process make Qualcomm's offer more competitive in the market.^[1]

Notes