Under the terms of the agreement, a subsidiary of Qualcomm will commence a tender offer to acquire all of the issued and outstanding shares of NXP for $110.00 per share in cash. Qualcomm intends to fund the transaction with cash on hand and new debt.
Steve Mollenkopf, CEO of Qualcomm “By joining Qualcomm’s leading SoC capabilities and technology roadmap with NXP’s leading industry sales channels and positions in automotive, security and IoT, we will be even better positioned to empower customers and consumers to realize all the benefits of the intelligently connected world.”
NXP had closed a deal to buy Freescale for $11.8B that closed in December of 2015 highlighting the increasing consolidation in the industry.
