NXP, Freescale complete merger

News Wireless Global 8 DEC 2015
NXP, Freescale complete merger
NXP Semiconductors has completed its takeover of Freescale Semiconductor, first announced in March for USD 11.8 billion. The new company, with annual sales over USD 10 billion, will continue under the name NXP Semiconductors, based in the Netherlands. NXP's main business will be automotive semiconductors and general purpose microcontrollers, while also holding substantial operations in security products for connected devices and identification. 

NXP said the takeover will add to adjusted earnings from next year. It expects USD 200 million in cost savings from the merger already in 2016 and to save eventually USD 500 million per year thanks to the synergies. NXP also announced the closing of the sale of its RF Power business to Jianguang Asset Management, one of the conditions of the takeover. The cash proceeds for the sale will be received later this month. 

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Companies:

Freescale Semiconductor,  NXP Semiconductors

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Global

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Semiconductors, Wholesale, M&A buyouts & divestments

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