Qualcomm Inc. is teaming with an investment firm to advance its autonomous-driving ambitions, snatching Swedish auto-technology company Veoneer Inc. from a competing bidder in a $4.5 billion takeover.
Qualcomm, which is best known for its chips that go into hundreds of millions of cellphones, said the investment firm, SSW Partners, would acquire Veoneer for $37 a share and then sell the Stockholm company’s Arriver sensor and driving software platform to Qualcomm.
