Qualcomm has officially ended its planned $44 billion acquisition of the Netherland’s -based chip-making rival NXP Semiconductors. NXP Semiconductors is a pioneer in the Internet of Things. The company offers what it describes as an end-to- end IoT portfolio of products with built-in security.
Some of the products include the use of near-field communications in identity cards, as well as microcontrollers, and sensors. Chinese antitrust regulators reportedly did not approve of the acquisition, which Qualcomm initiated in 2016. As part of the official termination of the acquisition agreement, Qualcomm must pay NXP a $2 billion “break up” fee.
Qualcomm Rival, Broadcom previously attempted to acquire NXP Semiconductors. However, U.S. regulators put a stop to the acquisition citing national security concerns.