Philips (Silver Lake Partners, Kohlberg, Kravis, Roberts)
posted on
Oct 30, 2007 04:47AM
NXP is one of the world’s largest semiconductor companies. NXP creates semiconductors, system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices. Formerly the semiconductor operations of Royal Philips Electronics, NXP has a history of market leadership and innovation stretching back more than 50 years. NXP is headquartered in the Netherlands and has 37,000 employees working in 20 countries across the world.On September 29, 2006, an investor group including Silver Lake, Kohlberg Kravis Roberts, Bain Capital, Apax Partners, AlpInvest and other co-investors acquired 80.1% of NXP from Royal Philips Electronics. The acquisition valued NXP at an enterprise value of €8.3 billion. Philips retained a 19.9% ownership interest in NXP.NXP is uniquely positioned to address the growing market for semiconductors in consumer applications. NXP intends to leverage its strength in video, audio, radio frequency communications, power management, and security technologies to build on its leading market positions and further deepen its longstanding customer relationships. In addition, NXP is executing a comprehensive multi-year business renewal program intended to streamline NXP’s cost structure, reduce capital intensity, and drive revenue growth. Silver Lake and the investor group are working closely with NXP to deliver on this initiative.Please visit www.nxp.com for more information about NXP. http://www.silverlake.com/content.php?page=investments-portfolio&id=21
