Smartphone chip-maker Qualcomm to purchase much larger company NXP Semiconductors

Smartphone chip-maker Qualcomm to purchase much larger company NXP Semiconductors


San Diego-based smartphone chip-maker Qualcomm is going to purchase Netherlands-based NXP Semiconductors. This is a huge acquisition for Qualcomm, who will be expanding their workforce 150%, as they absorb NXP's. Qualcomm hoped to expand their market with the deal, as the smartphone market has been slowing. NXP makes chips for many different items. The new combined company is expected to pull in $30 billion in revenue per year. The deal is over ten times larger than any acquisition Qualcomm has made in the past, and they will have to take on much debt to fund the deal.