Qualcomm and NXP Semiconductor reportedly agree on deal at $110 per share

Qualcomm and NXP Semiconductor have agreed on a deal that will see the mobile chip giant acquire NXP at a price of $110 per share, according to CNBC. The deal was first reported back in late September by the Wall Street Journal, with pricing said to be over $30 billion for the acquisition of the Netherlands-based automotive and security chipmaker.

The deal would be worth around $37.3 billion, considering a share price of $110. NXP’s current market cap puts its value at around $36.38 billion. CNBC reports that the asking price from NXP had been $120, but that they agreed on a $110 per share offer. Contract negotiation continues, but CNBC echoes a report from Bloomberg on Thursday that claimed a deal could be announced as early as next week.

Qualcomm’s acquisition of NXP would be a huge consolidation move for the silicon industry, and could help position Qualcomm to follow up its success in mobile with a key position in the automotive industry. NXP’s product portfolio includes strong presence in cars, and in identification-based security.