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Conexant’s STB operations acquired by NXP
NXP Semiconductors, the independent semiconductor company founded by Philips, is to acquire the Broadband Media Processing business of Conexant Systems, Inc. for $110m initially and a further $35m based on performance.
Following the acquisition, NXP’s existing set-top box and digital TV operations will be combined with Conexant’s BMP business.
The combined operations will create a top three player in digital video systems with the scale to establish a strong leadership position.
The acquisition is the fourth since NXP’s independence from Philips, and is the first for its Home Business Unit.
Conexant’s BMP business provides industry-leading solutions for satellite, cable and IPTV applications. The combined operations will create a top three player in digital video systems with the scale to establish a strong leadership position.
Upon completion, approximately 700 Conexant employees at locations in the United States, India, Northern Ireland, Israel and China will join NXP’s Home Business Unit.
NXP is a Top 10 semiconductor company founded by Philips more than 50 years ago. Headquartered in Europe, the company has 37,000 employees working in more than 20 countries.
The company creates semiconductors, system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices.
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