NXP Completes Acquisition Of Marvell’s Wi-Fi And Bluetooth Connectivity Assets

NXP Semiconductors N.V. (NASDAQ: NXPI) today announced the completion of the acquisition of the wireless connectivity assets from Marvell (NASDAQ: MRVL), pursuant to the terms of the previously announced agreement from May 2019.

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 processing and connectivity solutions to its customers across its end markets, including tailored security and a full suite of wireless connectivity spanning Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and Near Field Communications (NFC).

Quick facts on NXP:

·   NXP is #1 automotive suppliers in India

·   Over 80% of the cars in India use NXP chip for RFID key

·   $9.41 Billion in revenue in 2018

·   Over 60 years of combined experience and expertise

·   Approximately 30,000 employees in more than 32 countries

·   12,000 engineers in the world, 2,000+ in India

·   Noida 2^nd largest R&D location globally

·   Largest OEM customers:

o Apple

o Bosch

o Continental

o Ericsson

o Huawei

o Hyundai

o Nokia

o Panasonic

o Samsung, among others

India, December 9, 2019