Chipmaker Qualcomm has offered to purchase Swedish auto parts maker Veoneer for $4.6 billion, an 18.4 per cent premium to a bid in July. Veoneer said its board of directors would “judge the proposal from Qualcomm compatible with its legal duties and the terms of the Magna merger agreement”.

Qualcomm has been a chip supplier to carmakers and, last year started its ADAS systems called Snapdragon Ride. Earlier this year, it signed a collaboration deal with Veoneer to produce a software and chip platform for driver-assistance systems called Arriver. “The automaker industry continues to change, and now it’s important for automakers to have a partner who develops a platform which drives innovation and allow competition with others,” said Qualcomm CEO Cristiano Amon.

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“If Qualcomm success in Veoneer shareholders to accept, it will immediately see its current automotive business grow from its current focus of infotainment, telematics, and instrument cluster to deliver ADAS solutions and more,” Futurum Research analyst Daniel Newman said.