NXP Acquires Code Red Technologies
NXP Acquires Code Red Technologies
Strategic Addition to NXP Microcontroller Business Line
SAN JOSE, CA and CAMBRIDGE, UNITED KINGDOM -- (Marketwired) -- 05/01/13 -- NXP Semiconductors N.V. (NASDAQ: NXPI) today announced its acquisition of Code Red Technologies, an embedded software development tools provider, as a strategic addition to its microcontroller business line. Code Red Technologies is recognized industry-wide for innovative tools enabling rapid development and debugging of full-featured applications for 32-bit ARM(R) microcontrollers. These tools include the popular LPCXpresso IDE (integrated development environment) -- a very low-cost, end-to-end development platform for NXP LPC microcontrollers -- enabling embedded developers to develop applications from initial evaluation through to final production. The financial terms of the agreement were not disclosed.
LPCXpresso is based on Eclipse, with enhancements specific to LPC microcontrollers. Since its release in 2009, the LPCXpresso community has grown steadily, with over 66,000 unique software activations of the LPCXpresso IDE since January 2010.
"With LPCXpresso, NXP has built a strong foundation for a vibrant embedded development ecosystem around LPC microcontrollers. Bringing the Code Red team into our organization gives us the ability to jump-start our in-house software expertise, deliver world-class software libraries and integrated tools to our customers, and rapidly build on the momentum behind the LPCXpresso IDE," said Jim Trent, vice president and general manager, microcontroller business line, NXP Semiconductors.
"Joining forces with NXP enables us to focus on what we do best -- simplifying the development experience for customers through tools and software. Through closer integration, we'll also be able to bring our ARM and LPC experience into new market segments on a global scale, developing and tailoring software for specific applications and solutions," said John Rayfield, co-founder and CEO, Code Red Technologies.
Current Code Red customers using non-LPC platforms will continue to have support through May 2014. In addition, the full Red Suite product will continue to be sold for 8 months through to the end of December 2013. The Code Red team will be consolidated into three locations, including San Jose, California; Cambridge, UK; and Syracuse, New York.
About NXP Semiconductors NXP Semiconductors N.V. (NASDAQ: NXPI) provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power Management, Interface, Security and Digital Processing expertise. These innovations are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. A global semiconductor company with operations in more than 25 countries, NXP posted revenue of $4.36 billion in 2012. Additional information can be found by visiting www.nxp.com.
Forward-looking Statements 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.
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