According to Qualcomm, the two companies have complementary technology in a number of strategically important areas, including: mobile; automotive; IoT and security; and networking.
“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,” said Steve Mollenkopf, Qualcomm’s CEO. “By joining Qualcomm’s SoC capabilities and technology roadmap with NXP’s sales channels and positions in automotive, security and IoT, we will be even better positioned to empower customers and consumers to realise all the benefits of the intelligently connected world.”
According to Qualcomm, the combined company is expected to have annual revenues of more than $30bn.
Rick Clemmer, NXP’s CEO, added: “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.”