Philips Semiconductors - NXP
Philips Semiconductors, the company was sold to a consortium of private equity investors in 2006, at which point the company's name was changed to NXP
Silicon Valley-based Signetics, the "first company in the world established expressly to make and sell integrated circuits" and inventor of the 555 timer IC, was acquired by Philips in 1975. At the time, it was claimed that "with the Signetics acquisition, Philips was now number two in the league table of semiconductor manufacturers in the world." In 1987, Philips-Signetics, a unit of Philips, was ranked Europe's largest semiconductor maker, with sales of $1.36 billion in 1986.
Philips acquired VLSI Technology in June 1999. At the time, the acquisition made Philips the world's sixth largest semiconductor company.
In December 2005, Philips announced its intention to legally separate its semiconductor division, Philips Semiconductors, into an independent legal entity.
In September 2006, Philips completed the sale of an 80.1% stake in Philips Semiconductors to a consortium of private equity investors.
| Royal Philips Electronics is one of the world's biggest electronics companies and Europe's largest with sales of €29 billion in 2003.
Philips has five product divisions: Consumer Electronics; Domestic Appliances & Personal Care; Lighting; Medical Systems and Semiconductors.