NXP buys Jennic to broaden rf portfolio

"Innovation in low power wireless rf technology is driving significant demand for exciting new applications and usage models across a broad range of industries," said NXP's president and ceo Rick Clemmer. "The low power rf solutions for wireless applications which Jennic has developed have set a benchmark for driving down power performance. These also represent a great example of high performance mixed signal technology, which together will enable us to jointly target attractive growth markets and offer a complete range of wireless semiconductor solutions." Integrating Jennic's short range wireless technology will expand NXP's rf product portfolio, meeting increasing market demand for low power rf solutions. NXP says it will be able to offer comprehensive wireless semiconductor platform for emerging technologies including eMetering, smart lighting, building automation, asset tracking and device remote controls. NXP has paid approximately $12.2million for Jennic, with up to $7.8m available over the next two years, depending upon performance.