NXP announces completion of transaction to transfer NXP Sound Solutions business to Knowles Electronics business
Eindhoven, The Netherlands, NXP Semiconductors (NASDAQ: NXPI) today announced the completion of its agreement with Dover Corporation (NYSE: DOV) whereby Doverís Knowles Electronics business has acquired NXPís Sound Solutions business, initially announced on December 22, 2010. Under the terms of the agreement, Knowles has acquired NXPís Sound Solutions business for $855 million in cash
ďThe divestment significantly strengthened NXPís balance sheet, while enabling us to focus on our core High Performance Mixed Signal business. We look to continue working with Knowles Electronics as a key strategic supplier of semiconductor components.Ē said Rick Clemmer, President and CEO, NXP Semiconductors.
NXP Semiconductors N.V. (NASDAQ: NXPI) provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power Management, Interface, Security and Digital Processing expertise. These innovations are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. A global semiconductor company with operations in more than 25 countries, NXP posted revenue of $4.4 billion in 2010.
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