Aiming to offer complete and scalable processing and connectivity solutions, NXP announced the acquisition of Marvell’s wireless connectivity technology for 1.76 billion dollars in cash. The acquisition is NXP’s first major move after the deal with Qualcomm fell through, forcing the Dutch chipmaker to find a path to growth as a stand-alone company.
“We’re excited to be able to combine Marvell’s world-class connectivity with NXP’s industry-leading embedded processing. We can offer our customer base the broadest portfolio of edge solutions, which includes tailored security and a full suite of wireless connectivity spanning Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and NFC,” commented NXP CEO Richard Clemmer.
The acquisition includes Marvell’s Wi-Fi business unit, Bluetooth technology portfolio and related assets. With approximately 300 million dollars in revenue in Marvell’s fiscal 2019, NXP anticipates revenue associated with the acquired assets to double by 2022.