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Philips Semiconductors Becomes NXP

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Philips Semiconductors CEO Frans van Houten announced Friday the company will now be known as NXP, marking a milestone in its 53-year history as it becomes independent from Royal Philips. The name change announcement follows an agreement between Royal Philips and Kohlberg Kravis Roberts & Co. (KKR), Bain Capital, Silver Lake Partners, Apax and AlpInvest Partners NV that will see the consortium take an 80.1 percent stake in the semiconductor operation with Philips retaining a 19.9 percent interest. NXP CEO Frans van Houten on Friday unveiling the new name of the company formerly known as...Read full article

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    Companies
    Published: September 2006
    Glossary
    electronics
    That branch of science involved in the study and utilization of the motion, emissions and behaviors of currents of electrical energy flowing through gases, vacuums, semiconductors and conductors, not to be confused with electrics, which deals primarily with the conduction of large currents of electricity through metals.
    BerlinelectronicsIfAindustrialKKRNetherlandsNews BriefsNXPPhilips SemiconductorsPhotonics Tech BriefsRoyal Philipssemiconductorsvan Houten

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