Reuters 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. It also comes during a period of change at Qualcomm. Earlier this month, the company announced Steve Mollenkopf was retiring as CEO and will be replaced by current President Cristiano Amon. Mollenkopf has worked for the chip-making giant for 26 years, and became CEO in 2014.