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NXP finalizes purchase of Conexant's STB biz

Posted: 13 Aug 2008 ?? ?Print Version ?Bookmark and Share

Keywords:STB DTV? digital TV? system STB?

Following the announcement early this year, NXP Semiconductors has completed the acquisition of the Broadband Media Processing (BMP) business of Conexant Systems Inc. With this transaction, the first for its Home Business Unit, NXP's existing STB and digital TV (DTV) operations will be combined with Conexant's BMP business. NXP's Home business unit adds high-performance STB system solutions for satellite, cable and IP STB, expanding its existing portfolio in terrestrial STB, IP STB and DTV.

Christos Lagomichos, EVP and general manager of NXP's Home Business Unit, said in a statement: "Leadership and scale are vital to win, especially in a market that is consolidating. The combination of complementary DTV expertise from two leading players gives NXP a market leading position and the R&D synergies required to be the first to bring innovative products to customers. Specifically, we aim to lead in the development of 45nm based technology."

"We have completed the acquisition quickly and will maintain this pace by showcasing the joint product portfolio for the first time at IBC 2008 in September," he added.

Under the terms of the deal, NXP will pay Conexant $110 million in cash up front, and additional consideration of up to $35 million based on achievement of certain revenue milestones over the period from closing through 2009.

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