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STMicroelectronics and NXP JV takes off as ST-NXP Wireless
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A joint venture between STMicroelectronics and NXP Semiconductor was
confirmed yesterday and will be known as ST-NXP Wireless. The JV
company combines the mobile and wireless businesses of the two
companies and will target operations at the 2G, 2.5G, 3G, multimedia
connectivity and wireless technologies. The JV agreement will be
completed in the third quarter of 2008.
With a combined revenue of $3 billion in 2007, the two companies
forming the ST-NXP Wireless JV boast the potential to be in an ideal
position to invest in the research required to develop new wireless
technologies. Headquartered in Switzerland, the new company will
incorporate design, sales, marketing and back-end manufacturing assets
from both STMicroelectronics and NXP while utilising the companies’
foundries and wafer fabrication facilities.
"The new name,
ST-NXP Wireless, clearly illustrates the joining together of two
complementary and formidable forces in the worldwide market to create a
new global wireless powerhouse," said Alain Dutheil (pictured),
designated CEO, ST-NXP Wireless. "Our new company will be uniquely
positioned to continue and extend customer relationships with the key
players in the mobile and wireless industry, leveraging the passion and
expertise of what is one of the best pools of talents in the industry."