Federal Trade Commission Bureau of Competition Director Henry Liu issued the following statement in response to Qualcomm Inc.’s decision to abandon its proposed acquisition of Autotalks Ltd.:

“The termination of this proposed transaction will preserve vigorous innovation and price competition in the market for vehicle-to-everything (V2X) chipsets and related products used in automotive safety systems. This is a win for car buyers seeking quality, affordable cars with V2X communication capabilities that promise to make driving easier and safer.

Based on its probe into this proposed merger, FTC staff was concerned that the deal might harm competition in markets for V2X chipsets and related products. I want to thank the entire FTC team for their work on this matter.”