On October 27, Qualcomm Incorporated and NXP Semiconductors N.V. announced a definitive agreement, unanimously approved by the Boards of Directors of both companies, under which Qualcomm will acquire NXP. Pursuant to the agreement, a subsidiary of Qualcomm will commence a tender offer to acquire all of the issued and outstanding common shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion.
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. The transaction is said to have substantial strategic and financial benefits to both NXP and Qualcomm.
Read the press release issued by Qualcomm here.