NXP

NXP Semiconductors announced a $1. 76 billion deal to acquire wireless technology assets from Marvell Technology Group, as it looks to boost its connectivity options for customers in markets including automotive.

Qualcomm confirmed it is not planning to revive its failed bid to acquire NXP Semiconductors, despite the Chinese government indicating it would now be open to clearing the deal, Reuters reported.

The future of Qualcomm’s proposed acquisition of NXP Semiconductors remains uncertain as a deadline for Chinese regulators to approve the deal enters into the final hours.

Qualcomm chief Steve Mollenkopf (pictured) argued the company’s technology roadmap is strong enough to allow it to thrive, regardless of whether it closes a long-pending deal to acquire chip company NXP Semiconductors by a 25 July deadline.

The future of Qualcomm’s proposed deal to acquire NXP Semiconductors remains unclear after sources close to the deal dismissed reports Chinese regulators had approved the tie-up.

Qualcomm is set to make a final push to secure clearance from Chinese regulators for its proposed acquisition of NXP Semiconductors and is “cautiously optimistic”, as trade tensions between the US and China begin to ease, reported Reuters.

The Chinese government restarted a long-delayed review of Qualcomm’s proposed acquisition of NXP Semiconductors, after antitrust regulators were asked to speed up the evaluation of newly proposed remedies to protect Chinese companies, Bloomberg reported.