Deals
NXP to Sell Amplifier Unit for $1.8 Billion to China Partner
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NXP Semiconductors NV is selling its radio-frequency power-amplifier unit to a Chinese joint venture partner for $1.8 billion in an attempt to get regulatory approval for its acquisition of Freescale Semiconductor Ltd.
The sale is part of a bid to avoid NXP getting a too high market share in communication chips after the Freescale takeover, Joon Knapen, an NXP spokesman, said Thursday. About 2,000 workers will transfer to the new owner, China’s state-owned Jianguang Asset Management Co. NXP said in March it was seeking to sell the unit.