“The divestment significantly strengthened NXP’s balance sheet, while enabling us to focus on our core High Performance Mixed Signal business. We look to continue working with Knowles Electronics as a key strategic supplier of semiconductor components.” said Rick Clemmer, President and CEO, NXP Semiconductors.
NXP announces completion of transaction to transfer NXP Sound Solutions business to Knowles Electronics business
NXP today announced the completion of its agreement with Dover Corporation (NYSE: DOV) whereby Dover’s Knowles Electronics business has acquired NXP’s Sound Solutions business, initially announced on December 22, 2010. Under the terms of the agreement, Knowles has acquired NXP’s Sound Solutions business for $855 million in cash.