Qualcomm Inc has announced the acquisition of NXP Semiconductors NV for $47 billion in an all-cash deal on Thursday, 27 October. Qualcomm has agreed to pay $110 a share for NXP, an 11% premium over NXP’s closing price on Wednesday marking the largest deal in the history of the semiconductor industry.
With the acquisition, the largest smartphone chip producer will gain a strong foothold in the automotive sector, rising to a dominant position in the connected industrial and automotive applications.
“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, CEO of Qualcomm Incorporated. “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.”
Read the official statement from Qualcomm.