Qualcomm Inc., the largest maker of mobile-phone chips, will acquire NXP Semiconductors for $47 billion in an all-cash deal, aiming to speed an expansion into new industries and reduce its dependence on the smartphone market.
San Diego-based Qualcomm agreed to pay $110 a share for NXP, the biggest supplier of chips used in the automotive industry, or 11 percent more than Wednesday’s close, the companies said in a statement Thursday. The deal will be funded with cash on hand as well as new debt.
NXP is a competitor of Texas Instruments and ON Semiconductor (formerly Fairchild), both of which have manufacturing operations in South Portland. On Sept. 19, ON acquired Fairchild in a $2.4 billion deal, part of a worldwide trend of consolidation in the chip-making industry.
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.