Qualcomm Receives Approval From EU And Korea For NXP Acquisition

(RTTNews) - Qualcomm Inc. (QCOM) said that the European Commission and the Korea Fair Trade Commission or KFTC authorized the acquisition by Qualcomm River Holdings B.V. of NXP Semiconductors N.V. (NXPI). The acquisition has now received 8 of the 9 approvals around the world, with China remaining.

Qualcomm cooperated with the Commission and the KFTC to obtain authorization, and committed to exclude certain near-field communication (NFC) patents from the proposed transaction and ensure that NXP licenses those patents to third parties.

Qualcomm also committed not to assert the NFC patents it will acquire from NXP and maintain interoperability between Qualcomm's baseband chipsets and NXP's NFC chips and rivals baseband chipsets and NFC chips. Qualcomm also will continue to offer a license to MIFARE on terms commensurate with those offered by NXP today.