Qualcomm is going to buy NXP Semiconductors for about $47 billion.
In a statement announcing the agreement, which has been unanimously approved by both companies’ boards of directors, Qualcomm highlighted the use of NXP’s semiconductors in automotive, IoT, and security applications. Indeed, NXP’s technology has found its way into some innovative products: For example, it helped to power the NFC and Secure Element components of the Nymi Band biometric wristband at this year’s RSA Conference.
That kind of showy demonstration may have helped to attract Qualcomm’s interest, with that company exploring a number of technological areas, from healthcare and medical wearables to biometric authentication for mPayments. As Qualcomm CEO Steve Mollenkopf explains, by partnering its own technological prowess with that of NXP, his company “will be even better positioned to realize all the benefits of the intelligently connected world.”
The companies expect their combined enterprise to bring in $30 billion in annual revenues, and to reach the mobile, IoT, automotive, radio frequency, and networking markets.