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qualcomm-snapdragon

Qualcomm confirms it is buying NXP for $47 billion

October 28, 2016 by David Edwards

qualcomm-snapdragon

Qualcomm and NXP Semiconductors have announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Qualcomm will acquire NXP.

Qualcomm will pay $110 per share in cash, representing a total enterprise value of approximately $47 billion.

NXP is a specialist in high-performance, mixed-signal semiconductor electronics, with innovative products and solutions and leadership positions in automotive, broad-based microcontrollers, secure identification, network processing and RF power. 

As a leading semiconductor solutions supplier to the automotive industry, NXP also has leading positions in automotive infotainment, networking and safety systems, with solutions designed into 14 of the top 15 infotainment customers in 2016.

NXP has a broad customer base, serving more than 25,000 customers through its direct sales channel and global network of distribution channel partners.

Steve Mollenkopf, CEO of Qualcomm, says: “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.

“By joining Qualcomm’s leading SoC capabilities and technology roadmap with NXP’s leading industry sales channels and positions in automotive, security and IoT, we will be even better positioned to empower customers and consumers to realize all the benefits of the intelligently connected world.”

The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.

Qualcomm says the transaction has substantial strategic and financial benefit, includings:

Complementary technology leadership in strategically important areas: The transaction combines leadership in general purpose and automotive grade processing, security, automotive safety sensors and RF; enabling more complete system solutions.

Mobile: A leader in mobile SoCs, 3G/4G modems and security.

Automotive: A leader in global automotive semiconductors, including ADAS, infotainment, safety systems, body and networking, powertrain and chassis, secure access, telematics and connectivity.

IoT and security: A leader in broad-based microcontrollers, secure identification, mobile transactions, payment cards and transit; strength in application processors and connectivity systems.

Networking: A leader in network processors for wired and wireless communications and RF sub-segments, Wave-2 11ac/11ad, RF power and BTS systems.

Mollenkopf adds: “We have taken significant action to build a foundation for profitable growth and the acquisition of NXP is strongly aligned with our strategy.

“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.”

Rick Clemmer, NXP chief executive officer, says: “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.

“United in a common strategy, the complementary nature of our technologies and the scale of our portfolios will give us the ability to drive an accelerated level of innovation and value for the whole ecosystem.

“Such a strong fit will bring opportunities for our employees and customers, as well as provide immediate attractive value for our shareholders, in creating the semiconductor industry powerhouse.”

Sir Peter Bonfield, chairman of NXP, says: “This is a major step in my 10 years’ chairmanship of NXP, and I am very pleased to see that the board of NXP has unanimously approved the proposed transaction and fully supports and recommends the offer for acceptance to NXP shareholders.”

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Filed Under: News Tagged With: automotive, iot, mobile, networking, nxp, qualcomm, security, technology, transaction

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