Rick Clemmer, CEO NXP
NXP Semiconductors has agreed to sell its RF power business to Chinese private equity firm Jianguang Asset Management for $1.8bn.
The sale of the RF power business, which supplies RF power amplifiers to the mobile phone basestation market, seems to have been a element in the proposed merger of NXP with Freescale Semiconductor.
Proceeds from the sale of the RF Power business will be used to partly fund the acquisition of Freescale.
“Although we would have expected a higher valuation in a regular disposal, JAC Capital’s ability to support continued growth and development of the business and its ability to sign and close a transaction rapidly was a key factor in enabling the best outcome for our customers and shareholders, as well as supporting the closure of the merger with Freescale Semiconductor,” said Richard Clemmer, NXP CEO.
Under the agreement, the business and approximately 2,000 NXP employees are to be transferred to an independent company incorporated in the Netherlands, which will be 100% acquired by JAC Capital upon closing of the transaction.
Additionally, all relevant patents and intellectual property associated with the RF Power business will be transferred in the sale, as well the NXP back-end manufacturing operation in the Philippines that is focused on advanced package, test and assembly of RF Power products.
“We are happy to reach an agreement to acquire the RF Power business from NXP with its strong team and established technology. We will keep on increasing investment in R&D, manufacturing and customer service of the new company to strengthen its market position,” said Brighten Li, chairman of JAC Capital Investment Evaluation Committee.
from News http://ift.tt/1EA80Zb
via Yuichun
沒有留言:
張貼留言