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Qualcomm agrees to buy NXP for over $37 billion
Microprocessor maker Qualcomm is spending its way out of a stagnating mobile phone industry, offering to buy NXP Semiconductors, a company with a strong position in automotive chips, for more than US$37 billion.Qualcomm formalized its offer Thursday, barely a month after rumors began circulating that a deal was in the offing.NXP has only just digested its own multibillion acquisition, of Freescale Semiconductor, which closed in December 2015.The combination of Qualcomm and NXP will have annual revenue of around $35 billion, Qualcomm said. That's still well behind the $55 billion Intel reported for its full fiscal year 2015, although catching up.To read this article in full or to leave a comment, please click here