STMicroelectronics acquires NXP's MEMS sensor business for $950 million

STMicroelectronics announced plans to acquire NXP's MEMS sensor business for $950 million to strengthen its global sensor business. The acquisition will complement and expand STMicroelectronics' leading MEMS sensor technology and product portfolio, opening up new development opportunities for automotive, industrial and consumer applications. The MEMS sensor product portfolio that STMicroelectronics is about to acquire is mainly aimed at automotive safety sensors. It is expected that the business will generate approximately $300 million in revenue in 2024, and gross profit margins and operating profit margins will significantly improve STMicroelectronics' performance.