Qualcomm’s aim to charge into the automotive and IoT market has just gotten a huge boost as the company has announced that it will be acquiring NXP Semiconductor for USD47 billion.
Dutch-based NXP Semiconductors has been in Qualcomm’s eye for a while now. NXP is known for being the co-creator of the near-field communications (NFC) chip, and is currently working on projects that involved the automotive, security and Internet of Things industries. As Qualcomm has express interest in pushing into the Internet of Things and automotive industries, Qualcomm’s acquisition of NXP is a logical next step for the company.
Speaking to the Wall Street Journal, Qualcomm has announces its intention to work its way into “leadership positions across mobile, automotive, IoT, security, RF (radio frequency), and networking.” The deal is expected to be finalized before the end of 2017 once it passes regulatory approvals across the globe. “By joining Qualcomm’s leading SoC capabilities and technology roadmap with NXP’s leading industry sales channels and positions in automotive, security and IoT, we will be even better positioned to empower customers and consumers to realize all the benefits of the intelligently connected world,” says Steve Mollenkopf, CEO of Qualcomm.
Source: The Wall Street Journal, Ars Technica