Qualcomm - NXP Semiconductor

Qualcomm said Thursday it is acquiring NXP Semiconductors for $47 billion – the biggest deal yet in the chip industry.

NXP Semiconductor's broad customer base and global network of distribution channel partners is essential for expanding Qualcomm's Internet of Things, automotive, security and networking footprint, Qualcomm CEO Steve Mollenkopf said in a statement.

Eindhoven, Netherlands-based NXP Semiconductors specializes in developing chips for automotive systems including automotive radar, digital radios and transceivers. NXP also offers ARM-based, low-power microcontrollers for the IoT space, secure identification products, network processing and RF power products.