07:54 AM EDT, 03/25/2024 (MT Newswires) -- Qualcomm ( QCOM ) has terminated its deal to acquire Israeli firm Autotalks due to "lack of regulatory approvals in a timely manner," media outlets reported on Saturday.

The company announced the deal in May 2023.

"Automotive is a very important vertical for Qualcomm ( QCOM ) and we remain fully committed to our product roadmap, our customers and our partners," the media outlets, including Reuters, reported, citing a statement from Qualcomm ( QCOM ).

Neither Qualcomm ( QCOM ) nor Autotalks immediately responded to MT Newswires' requests for comment.

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