- The acquisition took place in an all-cash transaction valued at $1.76 billion
- The acquisition will enable NXP to deliver complete, scalable processing and connectivity solutions to its customers as per the company
According to a report by IANS, NXP Semiconductors has completed the acquisition of the WiFi connectivity business unit, Bluetooth technology portfolio and related assets from semiconductor company Marvell in an all-cash transaction valued at $1.76 billion. In May 2019, NXP agreed to acquire Marvell”s wireless connectivity portfolio in an all-cash, asset transaction.
Sanjay Gupta, vice president and India country manager, NXP Semiconductors said in a statement, “We are delighted to announce the closure of deal with Marvell. The combined expertise of Marvell”s connectivity business with NXP will help in creating better and meaningful solutions in the areas of connectivity, IoT and security for our customers.”
Zigbee, Thread and Near Field Communications
As per the report,the acquisition will enable NXP to deliver complete, scalable processing and connectivity solutions to its customers. These solutions will include full suite of wireless connectivity like Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and Near Field Communications (NFC).