Qualcomm to acquire NXP Semiconductor for $47 billion

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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.

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