Semiconductors and platforms for mobile applications Ericsson and STMicroelectronics to create joint company
STMicroelectronics and Ericsson Wednesday announced an agreement to merge Ericsson Mobile Platforms and ST-NXP Wireless into a joint venture. The 50/50 joint venture will have product offering in semiconductors and platforms for mobile applications.
The new company will be a supplier to Nokia, Samsung, Sony Ericsson, LG and Sharp. The fabless joint venture will employ almost 8,000 people with pro-forma 2007 sales of USD 3.6illion.
ST is expected to exercise its option to buy NXP's 20 percent of ST-NXP Wireless before the closing of this transaction.
In the joint venture, ST contributes its multimedia and connectivity solutions as well as a complete 2G/EDGE platform and 3G offering, including customer relationships with Nokia, Samsung, and Sony Ericsson.
Ericsson contributes its 3G and LTE platform technology as well as customer relationships with Sony Ericsson, LG and Sharp.
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