News

Freescale to be acquired in £9.4bn deal

Freescale Semiconductor is to be acquired by a consortium of investment companies as part of a $17.6bn (£9.4bn) deal.

Freescale was once part of Motorola and makes embedded chips for the auto industry and also makes mobile phone chips.

The company is being acquired by a private equity consortium led by the Blackstone Group, and includes The Carlyle Group, Permira Funds and Texas Pacific Group.

The firm first revealed it was in takeover discussions last week. The Freescale board has unanimously approved the deal, but there is a clause in the contract which allows the company to accept a better takeover offer within the next 50 days.

The firm competes heavily against the likes of Qualcomm and Texas Instruments in the growing wireless markets it operates in.

Freescale recently announced a chip that can store information rather like a hard drive, which uses magnetic technology instead of an electrical charge.

Freescale became a publicly traded company in July 2004 and employs around 24,000 people.

The company is based in Austin, Texas, and has design, research and development, manufacturing and sales operations across over 30 countries.


Vote for your IT greats

Who have been the most influential people in IT in the past 40 years? The greatest organisations? The best hardware and software technologies? As part of Computer Weekly’s 40th anniversary celebrations, we are asking our readers who and what has really made a difference?

Vote now at: www.computerweekly.com/ITgreats


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
 

COMMENTS powered by Disqus  //  Commenting policy