NFC Times Exclusive Insight – Seeking to expand its presence in such highly anticipated growth markets as the Internet of Things and intelligent cars, Qualcomm made good on earlier reported plans to buy Netherlands-based chip maker NXP Semiconductors, today announcing an all-cash deal worth $38.5 billion for NXP’s shares and total $47 billion including debt.
As NFC Times reported earlier this month, the deal for NXP, the largest supplier of NFC chips globally, is not expected to limit supply of NFC technology to smartphones running processors from other suppliers besides those designed by Qualcomm. But it will tighten an already close working relationship between Qualcomm and NXP in providing NFC-based technology to smartphone and other device makers.
Under the terms of the deal, Qualcomm will acquire all of the outstanding common shares of NXP for $110.00 per share, a 34% premium over where NXP shares were trading before the first rumors of the deal surfaced, though lower than some analysts and investors had expected.
