NXP acquires Jennic for $12.2million
1 min read
NXP has acquired Jennic, a specialist in low power rf solutions for wireless applications in smart energy, environment, logistics and consumer markets. The acquisition will see Jennic's portfolio of 802.15.4 and Zigbee low power rf devices integrated across a range of NXP's mixed signal products.
NXP paid approximately $12.2million to acquire 100% ownership of Jennic shares, plus up to $7.8m in additional consideration over the next two years if Jennic meets certain performance targets.
Approximately 50 UK based employees will transfer to NXP.
Rick Clemmer, president and ceo at NXP Semiconductors (pictured), said: "The low power rf solutions for wireless applications which Jennic has developed have set a benchmark for driving down power performance. These also represent a great example of high performance mixed signal technology, which together will enable us to jointly target attractive growth markets and offer a complete range of wireless semiconductor solutions."
Alexander Everke, NXP Semiconductors' executive vice president and general manager, High Performance Mixed Signal business unit, added: "We strongly believe that 802.15.4 short range wireless technology has potential to both enable a number of new applications, and replace traditional communications across a range of industries. The benefits of networking technology with low set up and operation costs are significant, and by integrating Jennic's solutions, we are now able to offer the broadest range of long and short range wireless platforms to meet any customer requirement."
