NXP acquires Conexants BMP biz for $110-mn

NXP acquires Conexant's BMP biz for $110-mn

NXP’s existing set-top box and digital TV operations to be combined with Conexant’s BMP business

Wednesday, April 30, 2008

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EINDHOVEN, THE NETHERLANDS: Philips-founded semiconductor company NXP Semiconductors has announced to acquire the Broadband Media Processing (BMP) business of Conexant Systems Inc for $110 million in cash and additional consideration of up to $35 million based on achievement of certain revenue over the period closing through 2009.

NXP's existing set-top box and digital TV operations will be combined with Conexant's BMP business, according to a press release.

The deal is NXP's fourth acquisition.

Conexant's BMP business, which provides solutions for satellite, cable and IPTV applications, accounted for $205 million in revenue in 2007.

"By acquiring Conexant's BMP activities, our digital TV and STB business will be strengthened in the operator segment of the market and we position ourselves to compete effectively on a global basis," said Frans van Houten, CEO, NXP.

"I am pleased to bring on board a strong team of Conexant engineers who have established a track record of developing industry-leading and award-winning solutions," said Christos Lagomichos, EVP and general manager, NXP's Home Business Unit.

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