Dutch chipmaker NXP targeted in $35 billion Qualcomm takeover

American chipmaker Qualcomm Inc. may soon announce that it is taking over Dutch rival NXP Semiconductors NV. The deal for a 35 million dollar acquisition is in the final stages, Bloomberg reports based on sources familiar with the process.

According to these sources, the American company is wrapping u a review of the Eindhoven based company's finances and operations. The announcement may come as soon as next week, when NXP is announcing its quarterly figures. Or may wait until November 2nd, when Qualcomm will announce its results.

Qualcomm wants to reduce its dependence on the smartphone market, which is slowing down. The company hopes to find ways to sell its processors and modems for other devices, such as cars.

This is one of NXP's strengths. The former Philips branch took over smaller American rival Freescale last year and grew into the largest supplier of chips to the car industry, according to Omroep Brabant.

Neither Qualcomm nor NXP would comment on the matter.