DLA Piper advised Qualcomm Inc.'s board of directors on a definitive agreement to acquire leading semiconductor solutions supplier NXP Semiconductors N.V. The transaction, valued at US$110 per share, has a total enterprise value of approximately US$47 billion.

Qualcomm is a world leader in 3G, 4G and next-generation wireless technologies. NXP is a leader in high-performance, mixed-signal semiconductor electronics, with innovative products and solutions and leadership positions in automotive, broad-based microcontrollers, secure identification, network processing and RF power.

The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking.

The DLA Piper team representing Qualcomm's board was led by Jay Rains, global co-CEO and co-chair of the Americas, Doug Rein, chair of the Public Company and Corporate Governance practice, and partner Jeff Baglio (all San Diego).