NXP and Freescale
NXP (Netherlands) and Freescale (USA) have been merged and continue operations as NXP Semiconductors. Both companies offered CAN products.
NXP IS THE MARKET-LEADING MANUFACTURER of CAN transceiver chips with a market-share of more than 50 percent. Freescale is one of the big players in the automotive micro-controller business. The MCUs are used mainly in powertrain and chassis applications.
“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.” As previously announced, the transaction is expected to be accretive to NXP non-GAAP earnings in 2016, and NXP anticipates achieving cost savings of $200 million in 2016 with a clear path to $500 million of annual cost synergies.
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