Royal Philips recently announced that they would be spinning out their Semiconductor division. The new entity also has a new name: NXP, for "Next Experience". Under the new arrangement, 80.1% of the ownership is now held by a private investment group. The group is a consortium made up of Kohlberg Kravis Roberts & Co. (KKR) and three others. [via Contactless News]
A lot of the focus of Philips Semiconductors has been in RFID (radio frequency identification) technologies for a variety of uses including contactless payment systems.
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