Electronics Production | September 05, 2007
DSP buys VoIP business from NXP
DSP Group and NXP Semiconductors has announced the completion of DSP Group's acquisition of NXP's Cordless and VoIP terminals business.
The transaction, which was initially announced on May 14, 2007, involved the initial payment by DSP Group of approximately $270 million, consisting of approximately $200 million in cash and 4,186,603 newly issued shares of DSP Group's common stock. As a result of the transaction, NXP now owns approximately 13% of DSP Group's outstanding common stock and an NXP nominee will be appointed to DSP Group's board of directors as a Class III director to serve until DSP Group's annual meeting of stockholders in 2009.
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