NXP sells RF Power business for 1.6 billion euros

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Today, NXP Semiconductors announced an agreement that will facilitate the sale of its RF Power business to Jianguang Asset Management Co. Ltd (JAC Capital). Under the terms of the agreement the Chinese JAC Capital will pay 1.8 billion dollars, or 1.6 billion euros, for the business.

The NXP RF Power business is one of the market leaders in high performance RF power amplifiers, primarily focused on the cellular basestation market, but with potential future growth applications in the areas of industrial lighting, next generation cooking and automotive electronic ignition systems.

The entire scope of the NXP RF Power business and approximately 2,000 NXP employees, who are primarily engaged globally in the RF Power business, including its entire management team, are to be transferred to an independent company incorporated in the Netherlands.

NXP and JAC Capital expect the sale to close within the second half of 2015.

Source: www.nxp.com

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