NXP Semiconductors NV has completed its acquisition of Quintic’s Bluetooth Low Energy (BTLE) and wearable business and with it has already seen gains in its market share.
The Eindhoven, Netherlands-based company said the deal not only expands its existing portfolio of low power RF products but adds a key component to enabling the Internet of Things (IoT).
The combination of the BTLE products and NXP’s NFC and Zigbee equipped microcontrollers offer designers the ability to develop smarter and secure products for wearables, mobile devices and connected cars, according to NXP.
Asit Goel, general manager and senior vice president of secure monitoring and control at NXP, said in a statement that the company has already seen significant share gains in the BTLE market with “400 percent to 500 percent revenue growth in 2015 versus last year.” Along with the current markets for BTLE, Goel added that NXP is developing opportunities “for the combined portfolio in the gaming, healthcare, secure access and automotive sectors.”
With the completion of the deal, NXP adds about 65 engineers in China and Sunnyvale, Calif., as well as more than 60 U.S. and Chinese patents, the company said.
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