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Qualcomm Nears $37 billion Deal to Buy NXP Semiconductors

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Qualcomm Inc is nearing a deal to acquire NXP Semiconductors  for around $37 billion, a person familiar with the matter said on Friday, as the U.S. company seeks to expand the reach of its chips from phones to cars. The deal would make San Diego-based Qualcomm, which supplies Android smartphone makers and Apple Inc, a bigger supplier to the automotive industry as it grapples with slowing smartphone sales and stiff competition from Chinese and Taiwanese rivals.
Qualcomm had sat out the transformative consolidation sweeping the industry, which has seen mega-deals such as Avago buying Broadcom for $37 billion last year. Read more

Sweekar S

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