BUZZ-NXP Semiconductors rises on $307 million deal to acquire Kinara

Reuters

02-10

BUZZ-NXP Semiconductors rises on $307 million deal to acquire Kinara

** Shares of chipmaker NXP Semiconductors NXPI.O rise 1.1% to $215.23 in premarket trading

** Co agrees to acquire AI firm Kinara in an all-cash transaction valued at $307 million

** Deal is expected to close in the first half of 2025

** "Adding Kinara's AI capabilities to our broad intelligent edge portfolio creates a scalable platform for new classes of AI-powered systems," said Rafael Sotomayor, executive vice president and general manager, Secure Connected Edge at NXP

** Stock had fallen 9.5% in 2024

(Reporting by Harshita Mary Varghese in Bengaluru)

((HarshitaMary.Varghese@thomsonreuters.com))

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