EINDHOVEN, Netherlands, Feb. 23, 2015 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (Nasdaq:NXPI) today announced that it has completed its acquisition of Quintic's Bluetooth Low Energy (BTLE) and Wearable businesses. With this transaction, NXP adds BTLE to an existing portfolio of ultra-low power RF-connectivity solutions key to the Internet-of-Things.
NXP's NFC, Zigbee and BTLE products paired with NXP microcontrollers and security solutions provide customers a complete range of technologies to develop smarter, secure connections in wearables, mobile devices and connected cars. "Since announcing the transaction with NXP in November, Quintic has gained further traction with wearables, consumer health and mobile customers. We have already seen significant share gains in the BTLE market, with 400-500% revenue growth in 2015 versus last year," said Asit Goel, General Manager and SVP of the Secure Monitoring & Control business at NXP Semiconductors. "Meanwhile we are also developing significant adjacent opportunities for the combined portfolio in the Gaming, Healthcare, Secure Access and Automotive sectors. With NXP's strength in ultra-low power microcontrollers and security, and our global sales and distribution reach, we expect the business to become a true leader in its market."
Through this acquisition NXP adds approximately 65 world class engineers located in China (Beijing, Shenzhen, Shanghai) and Sunnyvale, CA who will work closely with the existing NXP engineering teams to develop next generation connectivity solutions. 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 application areas Connected Car, Security, Portable & Wearable and Internet of Things. NXP has operations in more than 25 countries, and posted revenue of $5.65 billion in 2014. Find out more at 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.
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