Sunday, August 10, 2008

NXP Completes Acquisition of Conexant's BMP Business

NXP Semiconductors, the independent semiconductor company founded by Philips, completed its acquisition of the Broadband Media Processing (BMP) business of Conexant Systems for US $110 million in cash up front, and additional consideration of up to US $35 million based on achievement of certain revenue milestones over the period from closing through 2009.

The deal combines NXP's existing set-top box (STB) and digital TV (DTV) operations with Conexant's BMP business, adding STB system solutions for satellite, cable and IP STBs to an existing portfolio of terrestrial STB, IP STB and DTV products. This makes NXP a top three technology player in the Digital Video Systems market (DTV and STB).

Christos Lagomichos, EVP and General Manager of NXP's Home Business Unit, said: "Leadership and scale are vital to win, especially in a market that is consolidating. The combination of complementary digital TV expertise from two leading players gives NXP a market leading position and the R&D synergies required to be the first to bring innovative products to customers. Specifically, we aim to lead in the development of 45-nm based technology.

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