Qualcomm to buy NXP Semi for $38B in massive play on self-driving cars

With plans to insert itself in the driver's seat for a slice of the self-driving car market, Qualcomm said Thursday it has agreed to acquire NXP Semiconductors for about $38 billion. Qualcomm said it would pay $110 per share for the Dutch company, which commands 14% of global automotive semiconductor sales. It expects the deal to close by the end of 2017. "With innovation and invention at our core, Qualcomm has played a critical role in driving the evolution of the mobile industry," Qualcomm CEO Steve Mollenkopf said in a statement. "The NXP acquisition accelerates our strategy to extend our leading mobile technology into robust new opportunities, where we will be well positioned to lead by delivering integrated semiconductor solutions at scale."