In a move that extends our leadership in mobile multimedia and cellular system solutions, we recently announced that NXP will acquire GloNav Inc., a US-based, fabless semiconductor company developing single-chip solutions for global position systems (GPS) and other satellite navigation. The transaction will give NXP immediate access to GloNav's single-chip and 90-nm capabilities for GPS products and technologies.
This is NXP's second major acquisition in the mobile area (following our purchase of Silicon Labs' wireless portfolio earlier this year), and will quickly add complementary technologies to our existing portfolio.
According to Gartner, by 2010, roughly 40 percent of mobile phones (some 560 million) will be equipped with a GPS feature. The acquisition gives us a leading presence in the fast-growing GPS market for personal navigation devices and mobile phones, and further strengthens our ability to offer functionally rich, highly integrated cellular system solutions.
By combining GloNav's GPS expertise with our own industry-leading expertise in FM radio ICs, Bluetooth, USB, and NFC, we will offer the mobile-phone market one of the broadest connectivity suites.
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