09:09 AM EST, 12/19/2024 (MT Newswires) -- Qualcomm ( QCOM ) estimated annual savings of up to $1.4 billion on payments to Arm Holdings ( ARM ) by buying the chip startup Nuvia in 2021, Reuters reported Wednesday, citing internal Qualcomm ( QCOM ) documents and evidence presented at a trial in Delaware federal court.

The estimate came up while Qualcomm ( QCOM ) Chief Executive Cristiano Amon was testifying to a jury about the company's rationale for its $1.4 billion Nuvia acquisition, the report said.

Amon said the potential savings on royalty payments to Arm justified the acquisition, according to Reuters.

The CEO's testimony was part of a trial to resolve claims that since Arm didn't consent to the transfer of Nuvia's license deals, it can force Qualcomm ( QCOM ) to destroy the technology acquired in the buyout, the report said.

Qualcomm ( QCOM ) and Arm didn't immediately respond to requests for comment from MT Newswires.

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