Qualcomm pays record $47 billion to acquire Dutch chip maker NXP Semiconductors

Qualcomm Inc. has revealed its intention to complete the largest transaction in company’s history. The American multinational semiconductor and telecommunications equipment company is ready to pay $47 billion (43 billion euro) to take over the Dutch rival NXP Semiconductors, which, until 2006, was known as Philips Semiconductors.

Qualcomm headquarters in San Diego (pic: wikimedia commons)

NXP was part of the Philips Group until 2006. It currently operates in 35 countries and has 45,000 employees of which 2400 in the Netherlands. Qualcomm has less staff but higher sales. The acquisition by Qualcomm creates a giant over 70,000 employees and a combined annual turnover of more than $30 billion. According to the Verge, the US group will become “a sort of Intel of the 21st century”.

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Qualcomm’s record-breaking transaction makes the company become an independent chip maker as NXP owns seven plants in five countries. Qualcomm’s processors are currently produced by Taiwan Semiconductor Manufacturing.

Qualcomm Inc. had revenues of $16 billion last year, well below the 2014 earnings that peaked at $19.2 billion. The growing success of smartphones had a positive impact on the company which saw sales of only $6.4 billion back in 2009.
Photo credit: Coolcaesar at English Wikipedia [CC BY-SA 3.0 or GFDL], via Wikimedia Commons