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NXPI's purchase of MRVL's assets gets final approval

|About: NXP Semiconductors N.V. (NXPI)|By:, SA News Editor

NXP Semiconductors (NASDAQ:NXPI) and Marvell (NASDAQ:MRVL) announce receiving all necessary regulatory approvals for the acquisition of Marvell's wireless connectivity portfolio.

The deal is expected to close in the first half of December.

The acquisition includes about 600 people worldwide. NXP expects the deal to be accretive to its non-GAAP operating profit in the first full quarter after the close.

Related: The $1.76B asset acquisition was first announced in May.

NXPI shares are down 1.4% pre-market. MRVL drops 2.7%.

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