NXP Semiconductors N.V. (formerly Philips Semiconductors) is a Dutch semiconductor manufacturer. NXP (from Next eXPerience) was founded in 2006 when Philips Electronics sold its semiconductor division to a consortium of private equity investors. In 2015 NXP merged with Freescale Semiconductor in a $40B deal. In 2016 Qualcomm announced they will acquire NXP for $47 billion.