A startup founded by ex-Apple employees will be acquired by Qualcomm for $1.4 billion
fkhaled@businessinsider.com (Fatma Khaled)
Qualcomm will pay $1.4 billion for the two-year-old startup, Nuvia.
Nuvia chips will be incorporated across Qualcomm's products including smartphones and next-generation laptops.
Qualcomm Technologies has announced it will acquire Nuvia, a two-year-old chip startup company established by former Apple executives, for $1.4 billion.
The California-based chipmaker said Wednesday it plans to use Nuvia's technology in its flagship smartphones, next-generation laptops, auto components and other electronics gear.
The acquisition agreement comes as Qualcomm doubles-down on chip performance and consumer demand grows for more powerful mobile computing with the rollout of the faster and more reliable 5G wireless networks.