Although its roots trace back to 1949, when Motorola’s semiconductor division was established in Phoenix, Arizona, NXP Semiconductors as we know it today has been around since 2006. In 2015, Freescale and NXP merged, creating the fourth-largest semiconductor company worldwide and the top supplier in the automotive sector, operating under the NXP name. Now, NXP is moving ahead with plans to acquire TTTech Auto, an Austrian firm that provides software solutions focused on the systems, safety, and security necessary for software-defined vehicles (SDVs).
Acquisition Details
According to NXP’s official announcement, both parties have come to a final agreement valued at $625 million in cash, pending regulatory approval. After this approval is secured, about 1,100 engineers from TTTech Auto will become part of NXP’s workforce. This team "will keep serving current clients and broaden its global reach under the NXP brand."
Executive Insights
Jens Hinrichsen, who is the executive vice president and general manager of analog & automotive embedded systems at NXP Semiconductors, has stated that
"Our acquisition of TTTech Auto is an important move in NXP’s quest to be the foremost provider of smart edge systems in the automotive and Industrial IoT sectors."
Company Overview
NXP Semiconductors operates in over 30 countries and reported revenues of $13.28 billion in 2023. Based in Eindhoven, Netherlands, the company had a workforce of more than 34,000 employees in 2023. These employees are spread across various sites, including at least four wafer fabs, numerous R&D and design centers, four testing and assembly sites, and multiple sales offices.
For developers interested in NXP hardware, the Teensy 4.1 ARM Cortex-M7 NXP iMXRT1062 Microcontroller Development Board + Ethernet Kit is available on Amazon for $38.50.
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