U.S. chip designer Qualcomm signed an agreement to acquire the Israeli car communications company Autotalks, the two companies said in a joint statement on Monday.

The amount of the deal, carried out through Qualcomm's subsidiary Qualcomm Technologies, was not revealed, but was estimated by several Israeli media at around 350 million U.S. dollars.

Autotalks is a semiconductor chip company that developed V2X (vehicle-to-everything) communications solutions to reduce collisions and improve mobility.

This includes communications chips between vehicles, as well as with other objects in the road environment such as infrastructure, traffic lights, road signs and two-wheelers.

Through the acquisition, Autotalks' safety solutions will be incorporated into Qualcomm Technologies' cloud-connected automotive platforms, according to the statement.

In late 2022, Autotalks signed an agreement to install its chips on German highways, allowing drivers to receive a digital alert a kilometer ahead of a roadwork zone.

The company also demonstrated last month together with Volkswagen, Bosch eBike Systems, and Commsignia companies how V2X technology can prevent collisions between cars and electric bikes.

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