ST-NXP Wireless Joint Venture Moves Ahead

NXP — the independent semiconductor company founded by Philips — and STMicroelectronics announced the management team that will run their new joint venture. The new company, which will be named ST-NXP Wireless, combines the mobile and wireless businesses of STMicroelectronics and NXP, which together generated $3 billion USD in revenue in 2007. The new company will begin operations in a strong position to meet customer needs in 2G, 2.5G, 3G, multimedia, connectivity and all future wireless technologies. ST-NXP Wireless is expected to enter the market in number three position once full closure of the joint venture takes place, as scheduled, in the third quarter of 2008.

The management team of ST-NXP Wireless will be headed by Alain Dutheil, presently chief operating officer (COO) of STMicroelectronics,. As CEO of ST-NXP Wireless, he will focus exclusively on the new joint venture.

The joint-venture will combine key design, sales and marketing, and back-end manufacturing assets from both parent companies into a streamlined organization that will rely on its parent companies and foundries for wafer fabrication services. ST-NXP Wireless will be headquartered in Switzerland.http://www.st.comhttp://www.nxp.com/