NXP Semiconductors acquiring GloNav

NXP Semiconductors acquiring GloNav

NXP Semiconductors has announced that they are now going to acquire fabless semiconductor company GloNav.

The deal is worth around USD 110 million and it would give them access to their GPS expertise.

The company has been working on a strategy to expand their expertise in mobile componentry through acquisitions in the recent times.

Frans van Houton, NXP Semiconductors CEO added in a statement: “Combining GloNav’s GPS expertise with NXP’s FM Radio, Bluetooth, USB, and NFC leadership enables us to offer a broader connectivity suite to the mobile phone market.”

They are now planning to use their technologies to enhance their own product line with advance features.