Eindhoven, Netherlands, Nov 27, 2015 – NXP Semiconductors N.V. (NASDAQ: NXPI) today announced it has received final regulatory approval from the Ministry of Commerce (“MOFCOM”) of China to complete its merger with Freescale Semiconductor, Ltd. (“Freescale”).
The Company has now received all necessary regulatory approvals for the merger with Freescale, and the sale of its RF Power business to Jianguang Asset Management Co. Ltd (“JAC Capital”) for which divestment is a condition for the Freescale merger.
The Company expects to close the merger transaction and the divestment of its RF Power business on December 7, 2015.
“We are very excited to unveil today that the close of the merger with Freescale is upon us,” said Rick Clemmer, NXP Chief Executive Officer. “The combination of NXP and Freescale creates an industry powerhouse focused on the high growth opportunities in the Smarter World, and is a transformative step on our journey to become the industry leader in high performance mixed signal solutions.”
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) creates solutions that enable secure connections for a smarter world. Building on its expertise in high-performance mixed-signal electronics, NXP is driving innovation in the areas of connected cars, cyber security, portables & wearables, and the Internet of Things. NXP has operations in more than 25 countries, and posted revenue of $5.65 billion in 2014. Find out more at www.nxp.com