NXP completes deal to buy Freescale and create top auto chipmaker
FRANKFURT (Reuters) - NXP has completed its nearly $12 billion deal to buy Freescale, doubling the proportion of auto-related revenue to 40 percent to create the world's top maker of automotive electronics, it said on Monday. Faltering demand in computer and phone markets, once semiconductor industry mainstays, have fueled a year-long merger wave as firms look to formerly unappealing areas like auto electronics for sales growth.