ST and NXP combine to enter wireless market
16 September 2008
A new company has been formed that will enter the wireless technology market in Q3 2008.
Created from the mobile and wireless businesses of STMicroelectronics (www.st.com) and NXP (www.nxp.com), the joint venture will be called ST-NXP Wireless and have its headquarters in Switzerland.
The business will concentrate on 2G, 2.5G and 3G, multimedia, connectivity and future wireless technologies.
The management team will be made up of executives from both parent companies.
The choice of company name has been chosen to illustrate the coming together of two 'complementary and formidable forces...to create a global wireless powerhouse', said STMicroelectronics' Alan Dutheil.
Alain Dutheil, the current chief operating officer of STMicroelectronics, has been assigned as CEO of the new company, with Abhijit Bhattacharya, Tommi Uhari, and Marc Cetto sitting on the executive committee.
Bhattacharya, currently financial controller of the multimarket semiconductors business unit at NXP, has
been nominated to take the position of chief financial officer of the joint venture.
Uhari is currently the executive vice president and general manager of mobile, multimedia and communications group at STMicroelectronics, and Cetto is the executive vice president and general manager of mobile and personal business unit at NXP.
STMicroelectonics will control 80 per cent of the wireless company.
Barely had the ink dried on this venture when ST announced a 50-50 joint venture with Ericsson, using its Mobile Platforms. This alliance will target the 3G platforms.
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