NXP Buys JennicNXP Buys Jennic

EINDHOVEN, Netherlands -- NXP Semiconductors today announced its acquisition of Jennic, a leading developer of low power RF solutions for wireless applications in smart energy, environment, logistics and consumer markets. The acquisition will see Jennic's state-of-the-art portfolio of 802.15.4 and Zigbee low power RF solutions integrated across a wide range of NXP's High Performance Mixed Signal products. Together, this provides NXP with a comprehensive wireless semiconductor platform for emerging technologies including eMetering, smart lighting, building automation, asset tracking and device remote controls.

Integrating complementary short-range wireless technology from Jennic will immediately expand NXP's RF product portfolio, meeting increasing market demand for low power RF solutions. NXP paid approximately $12.2 million to acquire 100% ownership of Jennic shares, plus up to $7.8 million in additional consideration over the next two years if Jennic meets certain performance targets. Approximately 50 UK-based employees will transfer to NXP. NXP's worldwide distribution channels and leading customer base will allow Jennic's short-range wireless products to become available to a broader range of global customer, increasing scale and opportunities for its low power RF range.

"Innovation in low-power wireless RF technology is driving significant demand for exciting new applications and usage models across a broad range of industries," said Rick Clemmer, President and CEO, NXP Semiconductors. "The low power RF solutions for wireless applications which Jennic has developed have set a benchmark for driving down power performance. These also represent a great example of High Performance Mixed Signal technology, which together will enable us to jointly target attractive growth markets and offer a complete range of wireless semiconductor solutions."

NXP Semiconductors N.V. (Nasdaq: NXPI)