NXP takes Marvel branch company
The chip company NXP Semiconductors buys the Wi-Fi branch from its counterpart Marvell. This also includes the Bluetooth activities. The NXP, which is listed on the New York stock exchange, accounts for just under 1.8 billion dollars in total.
According to NXP, this is an important reinforcement. NXP boss Richard Clemmer calls the knowledge and expertise in the field of wireless connections at Marvell world-class. He said he was happy that he could now combine Marvel’s technology with NXP products. Around 550 employees are moving to NXP.
The relevant Marvell parts are now good for an annual turnover of around 300 million dollars. At NXP, there is a conviction that those revenues will have doubled by 2022. The deal is expected to be completed in the first quarter of next year, depending on regulatory approval. The new activities will probably already contribute to the operating profit in the following quarter.