Private equity-backed NXP to sell wireless chip division

Dutch Semiconductor business NXP, which is backed by KKR, Bain Capital, Apax Partners, AlpInvest Partners and Silver Lake Partners, is understood to have sold its wireless chip services business to French smart card provider Gemalto. The transaction is expected to close in Q2 2009.

Founded in 1950 and headquartered in Amsterdam and Eindhoven, NXP is a supplier of silicon system solutions for mobile communications, consumer electronics, digital displays, contactless payment and connectivity, in-car entertainment and networking. The company has 31,000 employees working in more than 20 countries and posted sales of $6.3bn.

Based in Sophia Antipolis, France, the wireless chip unit will continue to develop and market software and service solutions compliant with the MIFARE4Mobile interface specifications which manage MIFARE-based applications in Near Field Communication (NFC) mobile devices.

NXP will continue to invest in the development of industry-leading NFC chips that are fully compliant with current standards and interoperable with existing contactless infrastructure.

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