NXP Semiconductors to Buy GloNav
NXP Semiconductors has announced plans to acquire GloNav Inc., a US-based fabless GNSS semiconductor company, for $85 million in cash. The deal is expected to close in the first quarter of 2008, subject to regulatory approvals.
According to NXP, the company plans on integrating GloNav’s GPS technology with NXP’s expertise in Bluetooth, FM radio, and USB “to offer a broader connectivity suite to the mobile phone market.”
By Glen Gibbons
