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GloNav acquisition adds GPS to NXP portfolio

Posted: 27 Dec 2007 ?? ?Print Version ?Bookmark and Share

Keywords:GPS? NXP portfolio? GloNav acquisition?

NXP Semiconductors has announced it will acquire GloNav Inc., a U.S.-based fabless semiconductor company developing single-chip solutions for GPS and other satellite navigation systems. NXP will purchase the company for $85 million in cash plus up to $25 million in cash contingent upon GloNav reaching certain revenue and product development milestones over the next two years. The deal is expected to close Q1 2008, subject to regulatory approvals.

By 2010, approximately 40 percent (some 560 million) of mobile phones will be equipped with the GPS feature. "We already turned the cellphone into a multimedia wallet," commented Frans van Houten, CEO, NXP Semiconductors. "It's only natural that we also want to use our mobile phones to navigate and to find local goods and services. GPS integration allows us to create these and many more interesting and dynamic features, continuously enriching the cellphone in our pocket."

"Becoming part of NXP allows us to achieve the required scale in innovation, and opens up many new markets and customers in order to exploit the significant market potential for GPS. Our engineers are excited to become part of ambitious leadership projects in state-of-the-art technologies and to join their expertise to one of the leaders in cellular system solutions," commented Bill McLean, GloNav CEO. "We will have access to NXP's impressive customer base, which includes all the leading handset and device manufacturers."

GloNav has approximately 50 employees and contractors at locations in the United States, United Kingdom, Ireland and Taiwan. They will join NXP's Mobile and Personal Business Unit.

GloNav has a significant intellectual property portfolio and over 20 years of technology heritage in developing silicon-based GPS solutions. Through this acquisition, NXP will be able to access GloNav's single chip and 90nm capability to establish a strong presence in the fast growing GPS market in both personal navigation devices and mobile phones, and further strengthen its capability to offer functionally rich, integrated cellular solutions for its mobile customers.

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