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NXP, Freescale Announce Completion of Merger

Semiconductor leader has combined revenue of more than $10 billion.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

NXP Semiconductors N.V. and Freescale Semiconductor, Ltd. announced the completion of the merger pursuant to the terms of the previously announced merger agreement from March 2015. The merger has created a high performance mixed signal semiconductor industry leader, with combined revenue of more than $10 billion. The merged entity will continue operations as NXP Semiconductors N.V. and has become the market leader in automotive semiconductor solutions and in general purpose microcontroller products.

“Through this merger we have created an industry powerhouse focused on the high growth opportunities in the Smarter World, capitalizing on the emerging opportunities offered by the accelerating demand for connectivity, processing and security,” said Rick Clemmer, NXP CEO. “This merger enables us to deliver more complete solutions to our customers as we are emerging as the leader in the Secure Connections – and the supporting infrastructure – for the Smarter World domain.”

NXP also today announced the closing of the divestiture of its RF Power business to Jianguang Asset Management Co. Ltd (JAC Capital), after receiving official confirmation that JAC Capital has deposited the required funds at its bank in China to pay the purchase price. The cash proceeds for the sale will be received later this month following the required regulatory filings for cross-border transfers of funds from China.

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