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It seems as though the automotive technology market is experiencing a wave of consolidation. Qualcomm‘s (NASDAQ: QCOM) recent announcement that it’s buying NXP Semiconductors N.V. (NASDAQ: NXPI) for $39 billion comes less than a year after NXP bought up Freescale Semiconductors, a major supplier of automotive processors.
NXP’s purchase of Freescale made it the largest supplier of automotive semiconductors in the market, with 14.5% market share. That, along with NXP’s recent debut of its semi-autonomous driving technology (more on that later), made the company a formidable driverless car tech play. Now all of that will soon belong to Qualcomm.