December 7, 2015

NXP Closes Deal to Buy Freescale and Create Top Auto Chipmaker

NXP has closed its nearly $12 billion deal to acquire Freescale, doubling the proportion of auto-related revenue to 40 percent to create the world's top maker of automotive electronics, the company said on Monday.

Automotive unit Chief Executive Kurt Sievers said in an interview that the deal would allow NXP to assemble a range of discreet automotive applications into more complete systems running on top of Freescale processors. It propels NXP into new application areas in cars including powertrain, safety and body electronics, Sievers said, building on its existing leading positions in audio infotainment, security and vehicle networks.
Read more at Reuters

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