NXP Semiconductors' merger with Freescale Semiconductor means the 200 employees in Herzliya have joined the Dutch company.
The logo has changed on the Herzliya Pituach building of Freescale Semiconductor, Ltd. (NYSE: FSL) after it merged with Dutch company NXP Semiconductors N.V. (NASDAQ: NXPI). The merger has created a high performance mixed signal semiconductor industry leader, with combined revenue of over $10 billion. The merged entity will continue operations as NXP Semiconductors and has become the market leader in automotive semiconductor solutions and in general purpose microcontroller (MCU) products.
Freescale's Israel design center, which has over 200 employees, will now be known as NXP Semiconductors Israel Ltd. "Globes" understands that there will be no immediate changes at the Herzliya office.
“Through this merger we have created an industry powerhouse focused on the high growth opportunities in the Smarter World, capitalizing on the emerging opportunities offered by the accelerating demand for connectivity, processing and security. Today’s formation of the new NXP is a transformative step on our journey to become the industry leader in high performance mixed signal solutions,” said Rick Clemmer, NXP Chief Executive Officer. “This merger enables us to deliver more complete solutions to our customers as we are emerging as the leader in the Secure Connections and the supporting infrastructure for the Smarter World domain. As a result, we reiterate today that we fully expect to continue to significantly out-grow the overall market, drive world-class profitability and generate even more cash, allowing us to continue creating significant value for NXP’s shareholders.”
Published by Globes [online], Israel business news - www.globes-online.com - on December 7, 2015
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