Qualcomm Inc. is set to clinch European Union antitrust approval for its $39 billion acquisition of NXP Semiconductors during the next week. The EU opened an in-depth probe into the Qualcomm-NXP deal last June concerning that the deal may lead to higher prices, less choice and reduced innovation in the semiconductor industry. NXP has already significant presence in Austin after they acquired Freescale Semiconductor in 2015 for $11.9 billion. Qualcomm’s commitments will now include a pledge not to buy NXP’s standard essential patents, plus assurances that the rival products will still function with NXP’s, according to one of the people familiar with the matter. Qualcomm agreed to
