Published: November 25, 2014 | Eindhoven, Netherlands
NXP Semiconductors announced that it has entered into a definitive agreement with Quintic to acquire assets and IP related to its Wearable and Bluetooth Low Energy (BTLE) IC business. This transaction contributes to NXP’s drive to create security and connectivity solutions for fast-growing Internet-of-Things applications in Health & Fitness Wearables, Mobile Transactions, Proximity Marketing, Smart Home and Automotive.
The financial details of the deal were not disclosed. Significant IP assets, including more than 60 US and Chinese patents, form part of the transaction. NXP expects to close the transaction in the first quarter of 2015. Following the deal, the Quintic Wearable & BTLE team of about 65 engineers located in China and Sunnyvale, California, and its leadership is expected to join NXP.
“Quintic has impressive customer traction with its standalone BTLE solutions, especially in the Chinese eco-system that it operates in, and is a leader in developing innovative integrated solutions for the nascent wearables market. With NXP’s strength in ultra-low power microcontrollers and security, broad IoT application solutions offering, and global sales and distribution reach, the acquired Quintic business should become a true leader in its market. With this transaction, NXP now offers the complete range of ultra-low power connectivity standards relevant to the Internet-of-Things, being NFC, Zigbee and BTLE”, said Mark Hamersma, General Manager and SVP Emerging Businesses at NXP.