NXP buys IP for IoT; Mentor reports record Q3; Rambus inks security deal with Cisco.
M&A
NXP Semiconductors acquired the IP assets of Quintic for its wearable and Bluetooth Low Energy business. The deal is aimed at IoT applications.
Numbers
Mentor Graphics‘ numbers hit a record in fiscal Q3, which ended on Oct. 31. Revenue was $292.7 million, up from $275.6 million in the same period in 2013. Non-GAAP earnings were $39.92 million, up from $37.29 million in the same period in 2013, or $116.7 million on a GAAP basis. Projections for Q4 revenue are in the $425 million range, with full fiscal year results estimated at $1.23 billion.
NXP announced a private offering of $1 billion in senior notes, which are due in 2019, at an interest rate of 1% per year. The company will use the notes for hedge transactions, to repay €225 million in loans, and to fund the repurchase of up to $250 million in common stock.
Deals
Rambus‘ Cryptography Research Division licensed security-related technologies to Cisco. Specific terms of the agreement were not disclosed.
NXP won a deal with KDDI, a Japanese mobile operator, which will use NXP’s contactless IC for smart cards. KDDI will use the technology in its “au Wallet” prepaid cards.
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