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© qualcomm ©NXP Business | October 27, 2016

It's official - Qualcomm acquires NXP in $47 billion deal

Qualcomm and NXP Semiconductors N.V. have after much media speculation finally announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Qualcomm will acquire NXP.
Pursuant to the agreement, a subsidiary of Qualcomm will commence a tender offer to acquire all of the issued and outstanding common shares of NXP for USD 110.00 per share in cash, representing a total enterprise value of approximately USD 47 billion.

"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."

The combined company is expected to have annual revenues of more than USD 30 billion, serviceable addressable markets of USD 138 billion in 2020 and a strong positions across mobile, automotive, IoT, security, RF and networking.

"The combination of Qualcomm and NXP will bring together all technologies required to realize our vision of secure connections for the smarter world, combining advanced computing and ubiquitous connectivity with security and high performance mixed-signal solutions including microcontrollers. Jointly we will be able to provide more complete solutions which will allow us to further enhance our leadership positions, and expand the already strong partnerships with our broad customer base, especially in automotive, consumer and industrial IoT and device level security," said Rick Clemmer, NXP Chief Executive Officer.

The transaction is expected to close by the end of calendar 2017 and is subject to receipt of regulatory approvals in various jurisdictions and other closing conditions.
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