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NXP to divest its standard products business
NXP Semiconductors plans to divest its Standard Products business to a consortium of financial investors consisting of Beijing Jianguang Asset Management (JAC Capital) and Wise Road Capital.
The consortium will pay approximately USD 2.75 billion for the business. The transaction is expected to close in the first quarter of 2017, pending all required regulatory approvals and employee representative consultations. The NXP Standard Products business is a supplier of Discrete, Logic and PowerMOS semiconductors focused on the Automotive, Industrial, Computing, Consumer, and Wearable application markets. At the close of the transaction, the NXP Standard Products business will be branded Nexperia, which will be headquartered in Nijmegen, the Netherlands. For fiscal 2015, the NXP Standard Products business had annual revenue of USD 1.2 billion. "This transaction is a positive accomplishment for all parties involved. It enables NXP to continue to focus on its High-Performance Mixed Signal business, furthering our Secure Connections for a Smarter World strategy,” said Rick Clemmer, NXP Chief Executive Officer. “We believe the creation of Nexperia benefits our customers, as JAC Capital and Wise Road Capital will focus on global investments to enhance and support the future growth of the business.” “We are pleased to have reached an agreement to acquire the Standard Products business from NXP with its strong team and established technology. We will enhance the competitive position of the business globally through thoughtful investment in R&D, manufacturing and customer service to strengthen its global market position. JAC Capital, with its strong background in financial industries and many years of experience in the semiconductor and telecom areas, will actively help the management team of the new company to achieve long term success. Additionally, we will continue to support the existing labour conditions for the Standard Product employees, as they are a critical component to the long term success of the business,” said Brighten Li, Chairman of JAC Capital Investment Evaluation Committee. “We are committed to provide Nexperia the capital it requires to accelerate its global growth strategy, which we believe will help to accelerate product introductions in key target markets, while assuring no disruption to Nexperia’s global customer and supplier base. Although servicing a variety of markets, Nexperia will be especially increasing focus on automotive applications and providing their required high-level of quality solutions,” said Michael Zhang, Managing Partner of Wise Road Capital.
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