Showing posts with label NXP. Show all posts
Showing posts with label NXP. Show all posts

Monday, October 14, 2019

NXP debuts programmable baseband chips for 5G Access Edge

NXP Semiconductors unveiled a new series of Layerscape Access processors, compliant with O-RAN Alliance specifications abd designed for 5G Access Edge applications, such as Central Units/Distributed Units (CU/DU), Radio Units (RUs), along with Integrated Small Cells and Customer Premises Equipment (CPE) systems.

NXP said its Layerscape Access processors deliver unprecedented control over 5G-NR software architecture to support different network options. A primary challenge in 5G development is how to build-out the network infrastructure where there are a variety of architectures, spectrum, and evolving standards. With these new programmable, open-architecture, and scalable-Layerscape Access products, NXP helps deliver on the 5G promise.

The new Layerscape Access Families include:

  • LA1200 family – software-defined baseband processors for mmWave or sub-6GHz: RUs, Integrated Small Cells, and CPEs. These teraflop-class devices, with integrated forward error correction, are also ideal for DU offload applications.
  • LA9350 family – a cost-effective programmable baseband processor. This family addresses lower transceiver density 5G sub-6GHz and millimeter-wave markets such as RUs or enterprise and industrial applications.
  • LA9310 family – NXP’s most power-efficient software-defined baseband processors designed for 5G timing detection, aerospace, and defense applications

The new Layerscape Access processors are scheduled to sample in Q1 2020. Proof of concept development platforms are available today.

“NXP’s compelling end-to-end portfolio builds on NXP’s history of wireless solutions and industry leadership,” said Tareq Bustami, senior vice president and general manager of NXP’s Digital Networking Solutions. “We believe the uniquely programmable Layerscape Access baseband and integrated data converters offer the performance and flexibility required to enable rapid 5G deployments.”

Wednesday, May 29, 2019

Marvell sells Wi-Fi business to NXP for $1.76 billion

NXP will acquire Marvell’s Wi-Fi Connectivity business for $1.76 billion in cash.

The deal includes Marvell’s Wi-Fi and Bluetooth technology portfolios and related assets. The business employs approximately 550 people worldwide and generated roughly $300 million in revenue in Marvell’s fiscal 2019.

NXP said the acquisition enables it to offer a full range of wireless connectivity solutions including WiFi 4, 5, 6 and Bluetooth/ BLE combo along with its flagship edge computing platforms. including I.MX, Layerscape, Kinetis, LPC and the newly introduced RT Crossover Processors.

“We are excited to be able to combine Marvell’s world-class connectivity with NXP’s industry leading embedded processing, we can offer our customer base the broadest portfolio of Edge solutions which includes tailored security and a full suite of wireless connectivity spanning WiFi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and NFC,” said Richard Clemmer, chief executive officer of NXP.

“NXP has built a broad consumer footprint and an optimized platform for IoT applications, making it an ideal home for our innovative Wi-Fi technology and team,” said Matt Murphy, president and CEO of Marvell. “At the same time, this transaction yields a premium valuation and substantially higher economic return for Marvell shareholders while accelerating our transformation into a leading infrastructure supplier spanning 5G, data center, enterprise and automotive Ethernet applications.”

“We are excited to be able to combine Marvell’s world-class connectivity with NXP’s industry leading embedded processing, we can offer our customer base the broadest portfolio of Edge solutions which includes tailored security and a full suite of wireless connectivity spanning WiFi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and NFC,” said Richard Clemmer, chief executive officer of NXP. “I am delighted this world-class team with the right set of complementary connectivity technologies is joining NXP, enabling us to deliver on our commitment to provide Secure Connections for the Smarter World.”

Monday, September 3, 2018

NXP acquires OmniPHY for automotive Ethernet

NXP Semiconductors has acquired OmniPHY, a provider of automotive Ethernet subsystem technology. Financial terms were not disclosed.

NXP said OmniPHY's interface IP and communication technology along with NXP’s own automotive portfolio will form a “one-stop shop” for automotive Ethernet. The companies’ technology synergies will center on 1.25-28Gbps PHY designs and 10-, 100- and 1000BASE-T1 Ethernet in advanced processes.

“Our heritage in vehicle networks is rich and with our leadership positions in CAN, LIN, and FlexRay, we hold a unique viewpoint on automotive networks,” said Alexander E. Tan, vice president and general manager of Automotive Ethernet Solutions, NXP. “The team and technology from OmniPHY give us the missing piece in an extensive high-bandwidth networking portfolio.”

"We are very excited to join NXP – a leader in automotive electronics, for a front-row seat to the autonomous driving revolution, one that will deliver profound change to the way people live,” said Ritesh Saraf, CEO of OmniPHY. “The combination of our teams and technology will accelerate and advance the delivery of automotive Ethernet solutions providing our customers with high quality and world-class automotive Ethernet innovation."

Thursday, April 19, 2018

Chinese regulators express concern over Qualcomm + NXP

China's Ministry of Commerce is expressing market consolidation concerns over Qualcomm's pending acquisition of NXP Semiconductor and its operations in China. The Ministry will require Qualcomm to resubmit its antitrust application with additional information.


  • NXP Semiconductors N.V., which headquartered in Eindhoven, Netherlands, employs approximately 45,000 people in more than 35 countries and is known for its mixed-signal semiconductor electronics. The company was known as Philips Semiconductor prior to 2006.  Key markets include automotive, broad-based microcontrollers, secure identification, network processing and RF power. NXP has a broad customer base, serving more than 25,000 customers through its direct sales channel and global network of distribution channel partners.

Friday, April 6, 2018

Qualcomm continues to extend cash tender for NXP shares

Qualcomm once again extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V.

With the extension, the tender offer is now scheduled to expire at 5:00 p.m., New York City time, on April 13, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.

The original purchase agreement was announced on October 27, 2016.

Friday, March 9, 2018

Qualcomm once again extends tender offer for NXP

On Friday, March 9, Qualcomm once again extended its cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors. This offer extends through close of business on  March 16, 2018.

The acquisition was originally announced on October 27, 2016.

NXP Semiconductors N.V., which headquartered in Eindhoven, Netherlands, employs approximately 45,000 people in more than 35 countries and is known for its mixed-signal semiconductor electronics. The company was known as Philips Semiconductor prior to 2006.

Tuesday, February 20, 2018

Qualcomm raises its bid for NXP to $127.50 per share in cash

Qualcomm increased its bid to acquires all outstanding shares of NXP Semiconductors to $127.50 per share in cash.

The previous price was $110.

Qualcomm also announced binding agreements with nine NXP stockholders who collectively own more than 28% of NXP’s outstanding shares (excluding additional economic interests through derivatives) to tender their shares at $127.50 per share.  These stockholders include funds affiliated with Elliott Advisors (UK) Limited and Soroban Capital Partners LP.

“Qualcomm’s leading SoC capabilities and technology roadmap, coupled with NXP’s differentiated position in Automotive, Security and IoT, offers a compelling value proposition.  We remain highly confident in our fiscal 2019 Non-GAAP EPS target of $6.75-$7.50, which includes $1.50 per share accretion from the acquisition of NXP.  With only one regulatory approval remaining, we are working hard to complete this transaction expeditiously.  Our integration planning is on track and we expect to realize the full benefits of this transaction for our customers, employees and stockholders,” stated Steve Mollenkopf, Chief Executive Officer of Qualcomm.


Monday, February 19, 2018

Elliott insists fair value for NXP is $135 per share

Elliott Advisors (UK), which holds an approximate 7.2% economic interest in NXP Semiconductors, is insisting that the take-out value for Qualcomm to acquire NXP should be higher than $135 per NXP share.

Elliot published a presentation in which it argues:

  • NXP is currently one of the most attractive companies in the semiconductor sector
  • NXP has a track record of consistent outperformance versus market expectations over the past year 
  • NXP top-line growth came in above consensus expectations in each of the past four quarters with growth in 2017 Q4 of 16.0% outpacing consensus by 5.8 percentage points;
  • NXP's performance has been driven by impressive results of “Core NXP” (i.e., the Automotive and Secure Connected Devices segments contributing approximately 69%2 of NXP total revenues)
  • In 2017 H2, NXP’s revenue growth was higher than the median growth for its peers, signaling NXP’s potential and giving credibility to consensus expectation that the company should grow faster than peers at 5.3% CAGR (1.5 percentage points ahead of the median for NXP’s peers);
  • NXP is uniquely placed to radically enhance Qualcomm's long-term strategy

http://www.fairvaluefornxp.com/


Broadcom sweetens its bid for Qualcomm


Broadcom boosted its unsolicited bid to acquire Qualcomm to $121 billion, or $82 per share, consisting of $60.00 in cash and the remainder in Broadcom shares. Broadcom described the bid as its "best and final offer", saying that it is prepared to pay to Qualcomm "a significant "reverse termination fee" in an amount appropriate for a transaction of this size in the unlikely event we are unable to obtain required regulatory approvals." Several conditions...

Elliott comments on Qualcomm's extended tender for NXP


Elliott Advisors (UK) published an advisory letter to investment funds that now collectively hold an increased economic interest in NXP Semiconductors N.V. of approximately 6.6%. The advisory argues that that NXP is of significant strategic importance to QUALCOMM Incorporated (“Qualcomm”) and that such a transaction will deliver substantial value to Qualcomm shareholders at prices meaningfully higher than Elliott’s own assessment of standalone intrinsic...

Acquisition still not done - Qualcomm extends cash tender offer for NXP shares


Qualcomm extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 9, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement. American Stock Transfer & Trust Company, the depositary for the tender...

Elliott Advisors says Qualcomm's bid for NXP is too low


Elliott Advisors (UK), which advises funds that collectively hold an economic interest in NXP Semiconductors of approximately 6%, published an open letter stating that Qualcomm's offer to acquire the company is too low. Elliot believes NXP is worth $135 per share on an intrinsic standalone basis – far above the $110 offered by Qualcomm. Elliott states Qualcomm’s offer of $110 per share is acting as "a ceiling on NXP’s valuation", noting that NXP’s...


Sunday, January 21, 2018

Elliott comments on Qualcomm's extended tender for NXP

Elliott Advisors (UK) published an advisory letter to investment funds that now collectively hold an increased economic interest in NXP Semiconductors N.V. of approximately 6.6%. The advisory argues that that NXP is of significant strategic importance to QUALCOMM Incorporated (“Qualcomm”) and that such a transaction will deliver substantial value to Qualcomm shareholders at prices meaningfully higher than Elliott’s own assessment of standalone intrinsic value of $135 per share.

Elliott’s letter sets out the following points:

  • Qualcomm’s shareholders would benefit from a transaction which delivers material diversification away from its declining licensing business and provides meaningful strategic and financial synergies. In Elliott’s view, an acquisition of NXP brings more dollars of strategically relevant diversification in high-growth segments of the semiconductor market to Qualcomm than any other company. Elliott also notes that these benefits would not be available to Qualcomm through other means of capital allocation such as a buyback;
  • The synergies from the acquisition of NXP by Qualcomm alone could create between $19 and $48 of value per NXP share. NXP shareholders would be uniquely disadvantaged if a transaction occurred and these synergies were not appropriately and fairly shared. The average takeover premium paid on semiconductor and large cap deals during the last seven years was, based on one recent estimate, approximately 37%; and
  • The UBS Financial Analysis shows that Qualcomm shareholders could benefit from a share price increase from unaffected levels, as a result of an NXP acquisition, in excess of 30% at prices meaningfully higher than Elliott’s view of NXP’s standalone value of $135 per share.

“We believe both Qualcomm and NXP shareholders stand to benefit from a credible offer for NXP — an offer which appropriately and fairly recognizes both NXP’s intrinsic value, the substantial value that will be delivered to Qualcomm and a control premium for NXP shareholders,” Elliott said in its letter to shareholders. “Even if one’s view of NXP’s intrinsic stand-alone fair value is below Elliott’s own estimate of $135 per share, we believe the analysis supports the finding that Qualcomm can deliver value to its shareholders at prices for NXP higher than $135 per share. Our increasing economic interest in NXP which has current market value of approximately $2.7 billion underscores our significant level of conviction in the value opportunity present at NXP today.”

Saturday, January 13, 2018

Acquisition still not done - Qualcomm extends cash tender offer for NXP shares

Qualcomm extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI).

The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 9, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.

American Stock Transfer & Trust Company, the depositary for the tender offer, has advised Qualcomm that as of January 11, 2018, 5,695,728 NXP common shares, representing approximately 1.7% of the outstanding NXP common shares, have been validly tendered pursuant to the tender offer and not properly withdrawn. Shareholders who have already tendered their common shares of NXP do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the tender offer.

Qualcomm to Acquire NXP -- Engines for the Connected World

Qualcomm agreed to acquire all of the issued and outstanding shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. The deal will be financed through cash on hand and $11 billion in new debt. The companies expect total annualized synergies of $500 million within two years of close.

NXP Semiconductors N.V., which headquartered in Eindhoven, Netherlands, employs approximately 45,000 people in more than 35 countries and is known for its mixed-signal semiconductor electronics. The company was known as Philips Semiconductor prior to 2006.

Key markets include automotive, broad-based microcontrollers, secure identification, network processing and RF power. NXP has a broad customer base, serving more than 25,000 customers through its direct sales channel and global network of distribution channel partners.

For Q3 2016, NXP reported revenue of $2.469 billion, up 4.4% over a year ago, and GAAP gross profit of $1.184 billion, up 7.7% over a year ago.

The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.

Monday, December 11, 2017

Elliott Advisors says Qualcomm's bid for NXP is too low

Elliott Advisors (UK), which advises funds that collectively hold an economic interest in NXP Semiconductors of approximately 6%, published an open letter stating that Qualcomm's offer to acquire the company is too low. Elliot believes NXP is worth $135 per share on an intrinsic standalone basis – far above the $110 offered by Qualcomm.

Elliott states Qualcomm’s offer of $110 per share is acting as "a ceiling on NXP’s valuation", noting that NXP’s peers have traded up 65% since rumors of Qualcomm’s interest arose.

“We believe NXP’s prospects are bright. Approximately half of NXP’s revenue is exposed to exciting growth engines of the semiconductor market – automotive and industrial,” Elliott stated in its letter to shareholders. “We believe NXP shareholders have the opportunity to unlock a material valuation gap that exists today.”

Qualcomm to Acquire NXP -- Engines for the Connected World

Qualcomm agreed to acquire all of the issued and outstanding shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. The deal will be financed through cash on hand and $11 billion in new debt. The companies expect total annualized synergies of $500 million within two years of close.

NXP Semiconductors N.V., which headquartered in Eindhoven, Netherlands, employs approximately 45,000 people in more than 35 countries and is known for its mixed-signal semiconductor electronics. The company was known as Philips Semiconductor prior to 2006.

Key markets include automotive, broad-based microcontrollers, secure identification, network processing and RF power. NXP has a broad customer base, serving more than 25,000 customers through its direct sales channel and global network of distribution channel partners.

For Q3 2016, NXP reported revenue of $2.469 billion, up 4.4% over a year ago, and GAAP gross profit of $1.184 billion, up 7.7% over a year ago.

The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.

Thursday, October 27, 2016

Qualcomm to Acquire NXP -- Engines for the Connected World

Qualcomm agreed to acquire all of the issued and outstanding shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion. The deal will be financed through cash on hand and $11 billion in new debt. The companies expect total annualized synergies of $500 million within two years of close.

NXP Semiconductors N.V., which headquartered in Eindhoven, Netherlands, employs approximately 45,000 people in more than 35 countries and is known for its mixed-signal semiconductor electronics. The company was known as Philips Semiconductor prior to 2006.

Key markets include automotive, broad-based microcontrollers, secure identification, network processing and RF power. NXP has a broad customer base, serving more than 25,000 customers through its direct sales channel and global network of distribution channel partners.

For Q3 2016, NXP reported revenue of $2.469 billion, up 4.4% over a year ago, and GAAP gross profit of $1.184 billion, up 7.7% over a year ago.

The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.

"With innovation and invention at our core, Qualcomm has played a critical role in driving the evolution of the mobile industry. The NXP acquisition accelerates our strategy to extend our leading mobile technology into robust new opportunities, where we will be well positioned to lead by delivering integrated semiconductor solutions at scale," said Steve Mollenkopf, CEO of Qualcomm Incorporated. "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."

Qualcomm also noted that the acquisition is a tax efficient use of its offshore cash.

http://investors.nxp.com/
http://www.qualcomm

NXP to Acquire Freescale for $11.8 Billion

NXP Semiconductor agreed to acquire Freescale for $6.25 per share in cash and 0.3521 of an NXP ordinary share for each Freescale common share, implying a total equity value for Freescale of approximately $11.8 billion (based on NXP's closing stock price as of February 27, 2015) and a total enterprise value of approximately $16.7 billion including Freescale's net debt.

The deal creates the largest supplier of semiconductors for the automotive industry and the No.1 supplier of general microcontrollers (MCUs).

The combined company will capitalize on the growing opportunities created by the accelerating demand for security, connectivity and processing. NXP estimates annual cost synergies of $500 million.

"Today's announcement is a transformative step in our objective to become the industry leader in high performance mixed signal solutions. The combination of NXP and Freescale creates an industry powerhouse focused on the high growth opportunities in the Smarter World. We fully expect to continue to significantly out-grow the overall market, drive world-class profitability and generate even more cash, which taken together will maximize value for both Freescale and NXP shareholders," said Richard Clemmer, NXP Chief Executive Officer. Mr. Clemmer will continue to be the President and Chief Executive Officer of the merged company.

http://ir.freescale.com/investor-relations.aspx
http://www.nxp.com

Monday, March 2, 2015

NXP to Acquire Freescale for $11.8 Billion

NXP Semiconductor agreed to acquire Freescale for $6.25 per share in cash and 0.3521 of an NXP ordinary share for each Freescale common share, implying a total equity value for Freescale of approximately $11.8 billion (based on NXP's closing stock price as of February 27, 2015) and a total enterprise value of approximately $16.7 billion including Freescale's net debt.

The deal creates the largest supplier of semiconductors for the automotive industry and the No.1 supplier of general microcontrollers (MCUs).

The combined company will capitalize on the growing opportunities created by the accelerating demand for security, connectivity and processing. NXP estimates annual cost synergies of $500 million.

"Today's announcement is a transformative step in our objective to become the industry leader in high performance mixed signal solutions. The combination of NXP and Freescale creates an industry powerhouse focused on the high growth opportunities in the Smarter World. We fully expect to continue to significantly out-grow the overall market, drive world-class profitability and generate even more cash, which taken together will maximize value for both Freescale and NXP shareholders," said Richard Clemmer, NXP Chief Executive Officer. Mr. Clemmer will continue to be the President and Chief Executive Officer of the merged company.

"We believe this merger, which combines two highly successful and complementary companies, will create significant value for Freescale's and NXP's shareholders, customers and employees. Both companies have built leadership positions and have a sharp focus on delivering superior value to customers. Our combined scale, size and global reach will position our new company to deliver sustainable above market growth. It will also serve to accelerate the strategic plans both companies have invested in, enabling us to deliver more complete solutions to customers," said Gregg Lowe, Freescale Semiconductor President and Chief Executive Officer.


http://ir.freescale.com/investor-relations.aspx
http://www.nxp.com

See also