Autotalks – Onn Haran Co-founder and CTOand Hagai Zyss CEO (Courtesy company PR)
Autotalks, an Israeli startup which develops V2X solutions for use in smart cars, is getting bought out by Qualcomm, a San Diego based developer of communications chips. While the purchase price has not yet been revealed, Calcalist reported that it could be worth as much as $400 million.
Autotalks has raised about $130 million to date. But this could be seen as a net loss for the company seeing as how a little over a year ago Autotalks thought that it could come away with as much as a $2 billion valuation in an IPO.
Founded in 2008, Autotalks is a V2X chipset market developer which provides customers with what it describes as state-of-the-art V2X solutions. V2X (Vehicle-to-X) is the technology that allows for the exchange of data between vehicles as well as between a vehicle and a server via wireless networks. This is how a smart car exchanges information and allows a service provider of some kind to know where it is located, their speed and what the traffic is like, among other things.
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This may sound like Waze, but Waze requires some sort of internet access, usually through a user’s cell phone. V2X tech offers its own networks, and services far beyond what Waze offers as well as all manner of encryptions and cybersecurity.
Autotalks boasts that it helps reduce collisions on roadways and improve mobility with its automotive qualified chipsets. The chipsets, it says, offer the “most advanced, truly secure and highest performing global V2X communication solution designed for autonomous vehicles. Autotalks’ advanced technology, to be mass deployed in the coming years, complements the information coming from other sensors, specifically in non-line-of-sight scenarios, rough weather or poor lighting conditions. It significantly improves overall road safety, effectively coordinating vehicles, self-driving cars, motorcyclists and pedestrians.”
“It has been our mission to revolutionize safety for the transportation and automotive industry through our V2X solutions,” said Hagai Zyss, CEO of Autotalks. “We are confident that by combining our knowledge and expertise, we will not only deliver strong V2X products that will enhance transportation efficiency and safety for road users but will accelerate widespread adoption of V2X. We look forward to serving the auto industry together with Qualcomm and to bringing the best technologies to market.”
