NXP will have a 55 per cent holding in the new venture and Thomson the remaining 45 per cent. In 2007, these operations posted combined sales of over approximately €160m.
The new organisation will comprise approximately 4,000 employees, the majority of these being staff from NXP and Thomson manufacturing operations in
‘Moving our can tuner business into a JV reiterates NXP’s commitment to ensure our operations are best placed to succeed,’ said Christos Lagomichos, EVP and general manager of NXP’s Home Business Unit.
‘The new company will have the scale and leadership position to win in the can tuner market and to develop new RF technologies, while NXP will focus its Home Business Unit on digital TV, set top box, PC TV and silicon tuner activities.’
Julian Waldron, CEO of Thomson, added: ‘We are pleased to have reached a definitive agreement with NXP on the creation of this joint venture, which we believe will facilitate the successful further development of our can tuner businesses.
‘This represents an initial step towards the simplification of Thomson’s business portfolio to allow us to focus on developing our position as worldwide leader in video solutions.’
NXP and Thomson expect the transaction to close in the third quarter of 2008, subject to closing conditions, including regulatory approvals.