Ericsson and STMicroelectronics to Create World Leader in Semiconductors and Platforms for Mobile Applications 5/9/2008

STMicroelectronics and Ericsson have announced an agreement to merge Ericsson Mobile Platforms and ST-NXP Wireless into a joint venture. The 50/50 joint venture will have the industry’s strongest product offering in semiconductors and platforms for mobile applications and will be an important 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 3.6B. ST is expected to exercise its option to buy NXP’s 20 percent of ST-NXP Wireless before the closing of ...