Qualcomm set to acquire NXP Semiconductors

The transaction will cost around $47 billion

Handshake

Qualcomm and NXP have entered into a difinitive agreement, which will see the chip maker swallow up the semiconductor firm.

The decision was announced today, following a unanimous decision from both boards. Qualcomm intends to offer NXP shareholders $110 per share in cash, which will equate to a total purchase price of about $47 billion.

Advertisement - Article continues below

While Qualcomm is a specialist in mobile technology, particularly making chips for smartphones, NXP operates in slightly different areas, including secure identification, network processing and, notably, automotive.

This latter category includes advanced driver assistance systems (ADAS), such as collision avoidance, body and networking, secure access, telematics and other connectivity. It also has a presence in IoT.

Steve Mollenkopf, CEO of Qualcomm, said in a statement: "With innovation and invention at our core, Qualcomm has played a critical role in driving the evolution of the mobile industry. The NXP acquisition accelerates our strategy to extend our leading mobile technology into robust new opportunities, where we will be well positioned to lead by delivering integrated semiconductor solutions at scale.

"Our companies both have substantial expertise in delivering industry-leading solutions to our global customers, built upon a shared commitment to technology innovation, focused R&D investments and strong financial and operational discipline."

Advertisement
Advertisement - Article continues below

Rick Clemmer, NXP's CEO, added: "The combination of Qualcomm and NXP will bring together all technologies required to realize our vision of secure connections for the smarter world, combining advanced computing and ubiquitous connectivity with security and high performance mixed-signal solutions including microcontrollers.

"Jointly we will be able to provide more complete solutions which will allow us to further enhance our leadership positions, and expand the already strong partnerships with our broad customer base, especially in automotive, consumer and industrial IoT and device level security."

Featured Resources

Top 5 challenges of migrating applications to the cloud

Explore how VMware Cloud on AWS helps to address common cloud migration challenges

Download now

3 reasons why now is the time to rethink your network

Changing requirements call for new solutions

Download now

All-flash buyer’s guide

Tips for evaluating Solid-State Arrays

Download now

Enabling enterprise machine and deep learning with intelligent storage

The power of AI can only be realised through efficient and performant delivery of data

Download now
Advertisement

Most Popular

Visit/mobile/mobile-phones/355088/apple-lifts-iphone-purchase-restrictions
Mobile Phones

Apple lifts iPhone purchase restrictions

23 Mar 2020
Visit/software/operating-systems/355080/internal-docs-show-apple-is-aware-of-ios-13-hotspot-disconnect
operating systems

Report: Apple is aware of iOS 13 hotspot disconnect issue

23 Mar 2020
Visit/security/data-breaches/355097/ge-employees-hit-by-canon-data-breach
data breaches

General Electric employees hit by Canon data breach

24 Mar 2020
Visit/security/cyber-security/355089/hackers-hit-windows-with-another-bug
cyber security

Hackers expose yet another Windows 10 vulnerability

23 Mar 2020