Qualcomm Inc (QCOM.O) agreed to buy NXP Semiconductors NV (NXPI.O) for about $38 billion in the biggest-ever semiconductor industry deal, expanding the reach of its chips from phones to cars.
The deal will make Qualcomm, which provides chips to Android smartphone makers and Apple Inc (AAPL.O), the top supplier of chips to the automotive industry and help to reduce its dependence on the smartphone market.
San Diego-based Qualcomm, which gets most of its profit from wireless patents it licenses to the mobile industry, has been facing slowing smartphone sales and stiff competition from Chinese and Taiwanese rivals.
