Qualcomm to buy NXP for $61.8bn
Qualcomm will launch a tender offer for all NXP shares for US$110 in cash to help expand the company’s footprint across key emerging markets such as automotive technologies and the Internet of Things.
The deal will create a company with annual revenues of over US$30 billion and expand the total value of Qualcomm’s serviceable addressable markets by around 40% to US$138 billion by 2020, the company said.
NXP provides high-performance, mixed-signal semiconductor electronics and has a market-leading position in automotive infotainment, networking and safety systems for the automotive industry. The company has over 25,000 customers across various industries.
The acquisition will also expand Qualcomm’s presence in the mobile system-on-a-chip, IoT and security as well as networking markets.
“With innovation and invention at our core, Qualcomm has played a critical role in driving the evolution of the mobile industry,” Qualcomm CEO Steve Mollenkopf said.
“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.”
If the acquisition secures the required regulatory and other approvals, it is expected to close by the end of next year.
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