Qualcomm Acquiring NXP For $47 Billion

San Diego-based Qualcomm and NXP Semiconductors N.V. announced this morning that Qualcomm has agreed to buy NXP Semiconductors for $47 billion. The two said Qualcomm will pay $110.00 per share in cash for NXP, in a deal which has already been unanimously approved by the boards of both companies. NXP is a develops of mixed signal semiconductors. The two have been hasing out a deal since at least September. The two said the combined company is expected to have annual revenues of more than $30 billion.