NXP Takes Control of Marvell’s Wi-Fi, Bluetooth Connectivity Assets
NASDAQ-listed NXP Semiconductors NV has completed its acquisition of the wireless connectivity assets from Marvell, pursuant to the terms of the previously announced agreement from May 2019. The company had in May 2019, agreed to acquire Marvell’s wireless connectivity portfolio in an all-cash, asset transaction. The acquisition will enable NXP to deliver complete, scalable processing and connectivity solutions to its customers across its end markets, including tailored security and a full suite of wireless connectivity spanning Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and Near Field Communications (NFC).
Speaking on the deal, its Vice President and India Country Manager Sanjay Gupta said, “We are delighted to announce the closure of the deal with Marvell. The combined expertise of Marvell’s Connectivity business with NXP will help in creating better and meaningful solutions in the areas of connectivity, IoT and security for our customers. From the NXP India perspective, this has led us to come up with our 4th R&D Centre in Pune to work on the full suite of wireless connectivity spanning Wi-fi and Bluetooth Low Energy technology. Additionally, the acquisition will also increase our engineering headcount to over 2300 in India”.