NXP closes buy of CPPIB-backed Freescale Semiconductor

NXP Semiconductors NV (NASDAQ: NXPI) has closed its buy of Freescale Semiconductor Ltd (NYSE: FSL), a manufacturer of semiconductors based in Austin, Texas. The previously-announced deal valued Freescale at US$16.7 billion, including debt. NXP, which is based in Eindhoven, The Netherlands, said the deal has created the world's top maker of automotive electronics, with revenue of over US$10 billion. Taken private in 2006, Freescale was backed by Canada Pension Plan Investment Board and other private equity investors. Earlier this year, the company bought Ottawa's CogniVue Corp.

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