Qualcomm reportedly offered to give up specific patents in concessions offered to the European Commission (EC), as it looks to secure approval for a proposed acquisition of NXP Semiconductors.
The US-based company last week submitted concessions to the European regulator as it looks to ease anticompetition concerns over the deal, although no details of what it had offered were revealed.
Reuters reported, citing two people familiar with the matter, Qualcomm agreed not to acquire NXP’s standards-essential patents, which can in turn be sold to another buyer.
Qualcomm also agreed to not take legal action against third parties related to NXP’s NFC patents, with the exemption of cases for defence. In addition, Qualcomm pledged to offer interoperability, allowing rival products to function with NXP’s products.
The EC opened a probe into the deal in June, expressing concerns the transaction, could lead to higher prices and reduced innovation in the semiconductor industry.
However, the investigation was twice suspended as the EC waits on more information.
Qualcomm in June sought to push through the acquisition without offering any concessions, but since changed its approach in the face of regulatory scrutiny.
The EC is also waiting on feedback from rival companies in the coming days as part of its investigation process.
Qualcomm announced its deal to acquire NXP, for a value at the time of $38 billion, in October 2016.
The deal was positioned as a way for the company to bolster its proposition adjacent to its core mobile business, in areas including IoT and security applications.