Philips Semiconductors becomes NXP

Berlin, Germany, 1st September 2006 - It’s official. My employer Royal Philips Semiconductors, where I’ve working for more then 37 years, will move forward as NXP Semiconductors. Philips Semiconductors CEO Frans van Houten has given the official announcement at the Internationale Funkausstellung (IFA) consumer electronics show in Berlin.

The name change announcement follows an agreement between Royal Philips and Kohlberg Kravis Roberts & Co. (KKR), Bain Capital, Silver Lake Partners, Apax and AlpInvest Partners NV that will see the consortium take an 80.1 percent stake in the semiconductor operation with Philips retaining a 19.9 percent interest.

“NXP stands for Next Experience. In order to emphasize the rich heritage that NXP gained from 53 years as part of Royal Philips, the NXP name will be supported by the tagline founded by Philips.”

NXP is a top 10 semiconductor company founded by Royal Philips more than 50 years ago. Headquartered in Europe, the company has 37,000 employees working in 20 countries across the world. NXP creates semiconductors, system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices. NXP is Europe’s second largest semiconductor company and a global top 10 player in the world.

So, till my retirement I get ready to be part of a vibrant new company, NXP…