NXP acquires the Catena Group

On completion of the deal, NXP will own 100% of the Catena shares, while Catena will continue to operate as a separate design company. This deal gives NXP access to Catena's patents, IP and proprietary development tools, while enabling Catena to continue serving third party companies on a standalone basis. A supervisory board will be installed consisting of top management from NXP and Catena. Rick Clemmer, president and CEO of NXP Semiconductors, said, "This acquisition reinforces the long-standing and very successful technology and business partnership between NXP and Catena. Combining the core competencies of both teams enables us to further strengthen our leadership in wireless connectivity in automotive and other sectors. Catena has already made a significant contribution to NXP becoming the number one chip supplier for the global car entertainment market, and so we look forward to many more years of success to come." Rien Geurtsen, President of Catena Group, said, "We're very pleased with this definitive strengthening of the relationship between our two companies, particularly as NXP already generates up to 60% of our yearly sales. Catena is a profitable and steadily growing company, and is an exciting place for creative and ambitious engineers to work in -- by working even more closely, we are certain that the company will continue to expand and innovate with NXP."