Qualcomm is reportedly thinking about buying NXP Semiconductors and both stocks are surging
REUTERS/Albert Gea
Qualcomm is in talks to buy NXP semiconductors, according to the Wall Street Journal.
Qualcomm is worth $95 billion, while NXP has market cap of $32 billion. A deal could value NXP Semiconductors at more than $30 billion and happen within the next two to three months, according to the report.
The deal would add to a wave of consolidation that’s swept the semiconductor industry for the past few years.
There has been a frenzy of multibillion-dollar deals in the tech industry over the past 20 months, including Intel’s takeover of Altera, Avago’s acquisition of Broadcom, and Dell’s $67 billion takeover of EMC.
Also, Analog Devices struck a $14.8 billion deal to buy Linear Technology, Dutch chip-making company ASML bought Taiwan’s Hermes Microvision for $3.1 billion, and NXP Semiconductors sold its standard-products business to a group of Chinese investors for $2.75 billion.
NXP shares jumped by as much as 15% after the news crossed. It was briefly halted for volatility.
Google
NOW WATCH: KRUGMAN: Obamacare was done ‘on the cheap’ and now it is struggling
The post Qualcomm is reportedly thinking about buying NXP Semiconductors and both stocks are surging appeared first on Business Insider.