DLA Piper advises Qualcomm in US$1.4 billion acquisition of NUVIA
NEW YORK, Jan. 15, 2021 /PRNewswire/ -- DLA Piper represented Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, in the acquisition of NUVIA, a world-class CPU and technology design team, with industry-leading expertise in high performance processors, for approximately US$1.4 billion before working capital and other adjustments. The transaction is subject to customary closing conditions, including regulatory approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
The acquisition of NUVIA builds on Qualcomm Technologies' Snapdragon technology leadership, delivering step-function improvements in CPU performance and power efficiency to meet the demands of next-generation 5G computing. NUVIA CPUs are expected to be integrated across Qualcomm Technologies' broad portfolio of products, powering flagship smartphones, next-generation laptops and digital cockpits, as well as Advanced Driver Assistance Systems, extended reality and infrastructure networking solutions.
"We were thrilled to combine our deep M&A experience with our strong history of partnering with telecom and technology sector clients on complex transactions to advise Qualcomm in this acquisition, which will expand our client's resources and broaden its ability to create truly innovative products that serve a number of industries," said Jeff Baglio, the DLA Piper partner who led the firm's deal team.
In addition to Baglio (San Diego), the DLA Piper team representing Qualcomm included partners Jon Olsen, Neil Balmert, Mark Lehberg (all of San Diego), Mark Muedeking (Washington, DC), Ben Gipson (Los Angeles), Ute Krudewagen (Silicon Valley), James Vickery (Austin) and Russel Drew (Toronto); senior attorney Christopher Stevenson (Silicon Valley); and associates Shehzad Huda, Kathryn Fortin (both of San Diego) and Jason Veit (Chicago).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket.
DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.
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