Philips completes sale of chip unit stake
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(InfoWorld) - Koninklijke Philips Electronics has completed the sale of an 80.1 percent stake in its chip division to a group of private investment houses, the company said Saturday. The stake in NXP Semiconductors, theÂ new nameÂ of the chip unit,Â was sold to a groupÂ including Kohlberg Kravis Roberts & Co. (KKR), Silver Lake Partners, and AlpInvest Partners. Philips expects to take in â¬6.4 billion ($8.12 billion) in cash from the sale, after taxes. The European electronics giant will keep a 19.9 percent share of the business. Philips said the deal places the value of NXP at â¬8.3 billion. There have been a number of chip industry deals this year, including aÂ $17.6 billion offer for Freescale SemiconductorÂ last month. In July,Â Intel soldÂ its communications and application processor business to Marvell Technology Group for $600 million, while earlier this year,Â PMC-Sierra acquiredÂ the storage semiconductor business formerly owned by Agilent Technologies for $425 million.
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Investor's Business Daily - Philips Semiconductors has a plan to cash in on the craze for cool new features in cell phones.
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The Dutch electronics group Philips said that it is selling its low-brand flat screens business group to TPV Technology of Taiwan as part of a strategic change of direction, and in line with a trend by big groups to use Asian partners to cut costs.
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IPTV kit too UK-based Pace Micro Technology has agreed to buy Philips' set-top box business in exchange for 70m of its shares - equivalent to 23 per cent of the business - the two consumer electronics companies said today.â¦
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LG.Philips LCD is changing its name to LG Display, after Philips Electronics reduced its stake in the company.
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Freescale Semiconductor Inc. has agreed to be acquired by a group of investment firms for US$17.6 billion.
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Philips Electronics NV is to buy U.S. medical products company Respironics Inc for 3.6 billion euros ($5.2 billion), its biggest ever acquisition, as it expands in the fast-growing healthcare sector.
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Philips Electronics  said on Friday it is to buy U.S. medical products company Respironics  for $5.17 billion to strengthen its healthcare business.
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Dell has won a $700 million hardware and services contract with Philips Electronics. The deal will include the sale of Dell OptiPlex desktop computers, Precision workstations and Latitude
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Dutch Philips Electronics   said on Wednesday it plans to buy back 5 billion euros ($7.2 billion) of its own shares after hedge fund pressure for the firm to improve its performance and capital structure.
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Taipei-headquartered TPV Tech-nology Ltd ( å æ·ç§æ ) yesterday agreed to buy Amsterdam-based Royal Philips Electronics NV&#39;s PC monitor unit, making it the world&#39;s largest PC monitor maker, up from its current second place.
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&quot;All administrative work has been completed to sell Hynix&#39;s non-memory chip unit to Citigroup Venture Equity Partners LP,&quot; Hynix&#39;s primary creditor bank said.
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Shares in LG.Philips LCD Co Ltd  surged on Friday on market talk Japan's Matsushita Electric Industrial was buying a stake in the South Korean flat screen maker, but both firms poured cold water on the talk.
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German chip maker Infineon Technologies has agreed to buy Texas Instruments' DSL Customer Premises Equipment (CPE)Â business in a deal expected to close by the end of the summer, the companies said.
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Royal Philips Electronics said on Wednesday that it would take a $752 million charge in the fourth quarter to reduce the value of its stake in MedQuist
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Third-quarter profits at Koninklijke Philips Electronics NV surged on one-time gains from stakes sold in two companies floated on the capital market, Europe&#39;s largest consumer electronics maker said Tuesday in a statement.
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Home Depot Inc  said it completed the  sale of its wholesale supply business, HD Supply, to buyout  firms on the same terms announced earlier this week.