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.
About Quintic
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.
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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