12.03.19
NXP Semiconductors N.V. and Marvell announced that all necessary regulatory approvals have been received for NXP’s acquisition of the wireless connectivity portfolio from Marvell. The companies expect to close the transaction in the first half of December 2019.
“We are pleased that the closing of this deal is upon us, and ahead of schedule,” NXP CEO Rick Clemmer said. “Marvell’s world-class engineering team and industry-leading connectivity product set, especially the disruptive Wi-Fi 6 portfolio, will immediately complement NXP’s processing, security and connectivity offerings in the Industrial & IoT, as well as in the Automotive and Communication Infrastructure markets.”
In May 2019, NXP agreed to acquire Marvell’s wireless connectivity portfolio in an all-cash, asset transaction. The acquisition will enable NXP to deliver complete, scalable pro-cessing and connectivity solutions to its customers across its end markets, including tai-lored security and a full suite of wireless connectivity spanning Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and Near Field Communications (NFC).
The acquisition includes nearly 600 people worldwide and is expected to be accretive to NXP’s non-GAAP operating profit in the first full quarter after the transaction closes.
“We are pleased that the closing of this deal is upon us, and ahead of schedule,” NXP CEO Rick Clemmer said. “Marvell’s world-class engineering team and industry-leading connectivity product set, especially the disruptive Wi-Fi 6 portfolio, will immediately complement NXP’s processing, security and connectivity offerings in the Industrial & IoT, as well as in the Automotive and Communication Infrastructure markets.”
In May 2019, NXP agreed to acquire Marvell’s wireless connectivity portfolio in an all-cash, asset transaction. The acquisition will enable NXP to deliver complete, scalable pro-cessing and connectivity solutions to its customers across its end markets, including tai-lored security and a full suite of wireless connectivity spanning Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and Near Field Communications (NFC).
The acquisition includes nearly 600 people worldwide and is expected to be accretive to NXP’s non-GAAP operating profit in the first full quarter after the transaction closes.