Qualcomm announced it will be purchasing NXP Semiconductor, a Dutch company that acquired Freescale Semiconductor last year, in merger news that underscores the importance of IoT in the future. According to the deal’s terms, Qualcomm will be paying $110 a share in cash for NXP, equaling a total of $47 billion. This is a smart move for Qualcomm that will position the mobile chip leader for the large-scale IoT and automotive market. See also: Qualcomm wants you to train your new Snapdragon Qualcomm’s mobile presence, combined with NXP, which produces mixed-signal chips and is a major player in microcontrollers, automotive, networking and security, makes for a dynamic duo to go after Internet of things markets and smart cities. Together, the new company expects to hit annual sales of about $35 billion. As the market becomes saturated with smartphones and is beginning to slow, the acquisition of NXP will afford Qualcomm the opportunity to diversify from mobile.
Topics: nxp semiconductor dutch freescale semiconductor this snapdragon qualcomm s together auto the iot steve mollenkopf nxp s iot self-driving there mollenkopf readwrite qualcomm nxp nxp nxp s i iot nxp internet i iot mollenkopf the company deal percent technology car market sales year revenue smart closes
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