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.