Qualcomm buys NXP Semiconductors

Qulacomm has announced that it will be acquiring NXP Semiconductors in order to fast track its way into the automotive industry as it tries to expand beyond the smartphone market. The deal is valued at around $47 billion with Qualcomm agreeing to pay $110 a share for NXP. The company will be paying with a mixture of cash on hand and new debt at a price per share that is 11 percent higher than what semiconductor company's shares were trading for when the market closed on Wednesday. Qualcomm's CEO, Steve Mollenkopf, is taking a risk on the deal which is… [Continue Reading]