EINDHOVEN, Netherlands, Nov. 24, 2014 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (Nasdaq:NXPI) today announced that it has entered into a definitive agreement with Quintic to acquire assets and IP related to its Wearable and Bluetooth Low Energy (BTLE) IC business. This transaction contributes to NXP's drive to create security and connectivity solutions for fast-growing Internet-of-Things applications in Health & Fitness Wearables, Mobile Transactions, Proximity Marketing, Smart Home and Automotive.
"Quintic has impressive customer traction with its standalone BTLE solutions, especially in the Chinese eco-system that it operates in, and is a leader in developing innovative integrated solutions for the nascent wearables market. With NXP's strength in ultra-low power microcontrollers and security, broad IoT application solutions offering, and global sales and distribution reach, the acquired Quintic business should become a true leader in its market. With this transaction, NXP now offers the complete range of ultra-low power connectivity standards relevant to the Internet-of-Things, being NFC, Zigbee and BTLE," said Mark Hamersma, General Manager and SVP Emerging Businesses at NXP.
The Quintic Wearable & BTLE team of approximately 65 world class engineers located in China (Beijing, Shenzhen, Shanghai) and Sunnyvale, CA, and its leadership is expected to join NXP at close of this transaction which is targeted for Q1 2015. Significant IP assets, including more than 60 US and Chinese patents, form part of the transaction.
About NXP Semiconductors
NXP Semiconductors N.V. (Nasdaq:NXPI) creates solutions that enable secure connections for a smarter world. Building on its expertise in High Performance Mixed Signal electronics, NXP is driving innovation in the automotive, identification and mobile industries, and in application areas including wireless infrastructure, lighting, healthcare, industrial, consumer tech and computing. NXP has operations in more than 25 countries, and posted revenue of $4.82 billion in 2013. Find out more at www.nxp.com.
Founded in Silicon Valley, and with offices in multiple locations in China, Quintic is the supplier of QBlue, a world class Bluetooth Low Energy product line. Leveraging their expertise in ultra-low power and high performance RF IC design, Quintic is delivering leading wireless connectivity and control solutions for consumer electronics, wearable devices and their peripherals.
This document includes forward-looking statements which include statements regarding NXP's business strategy, financial condition, results of operations and market data, as well as other statements that are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after NXP distributes this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in NXP's SEC filings. Copies of NXP's SEC filings are available from the SEC website, www.sec.gov.