Qualcomm will acquire NXP Semiconductor in a cash deal worth around $47 billion. The two chip-making giants were said to have reached an agreement last week, but today’s announcement from Qualcomm makes it official.
The acquisition will create a combined company with annual revenue north of $30 billion, and give Qualcomm additional expertise in security, identity and automotive processor components, to complement its mobile, IoT and wireless radio business. It’s a smart move by Qualcomm to help it continue to be a key player in the chip industry, as connected vehicles with increasing amounts of on-board tech, and digital security in general, become areas where more attention and investment is focused.
Qualcomm was first reported to be considering an acquisition of Netherlands-based NXP back in late September.