NXP Semiconductors is a Dutch semiconductor manufacturer. It is one of the worldwide top 20 semiconductor sales leaders and was founded in 1953, when the Philips Board started a semiconductor operation with manufacturing and development in Nijmegen, Netherlands. Formerly known as Philips Semiconductors, the company was sold by Philips to a consortium of private equity investors in 2006. The new name, NXP, stood for the consumer’s “next experience”, according to then-CEO Frans van Houten. On August 6, 2010, NXP completed its IPO, with shares trading on NASDAQ under the ticker symbol NXPI. On December 23, 2013, NXP Semiconductors was added to the NASDAQ 100. NXP Semiconductors provides mixed signal and standard product solutions based on its RF, analog, power management, interface, security and digital processing expertise. These semiconductors are used in a wide range of “smart” automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. Headquartered in Eindhoven, Netherlands, the company has approximately 24,000 employees working in more than 25 countries—including 3,300 employees in Research & Development—and reported sales of $4.358 billion in 2012. NXP’s shipment-based revenue in Greater China is twice as big compared to Europe, and 8,000 of the company’s employees are based in China. NXP is the co-inventor of near field communication (NFC) technology along with Sony and supplies NFC chip sets which enable mobile phones to be used to pay for goods, and store and exchange data securely. NXP manufactures chips for eGovernment applications such as electronic passports; RFID tags and labels; and transport and access management, with the chip set and contactless card for MIFARE used by many major public transit systems worldwide. In addition, NXP manufactures automotive chips for in-vehicle networking, passive keyless entry and immobilization, and car radios. NXP invented the I²C interface over 30 years ago and is a supplier of I²C solutions. NXP is also a volume supplier of standard logic devices, and celebrated its 50 years in logic (via its history as both Signetics and Philips Semiconductors) in March 2012. NXP currently owns approximately 11,000 issued or pending patents. On the 2nd of March 2015 it was announced that NXP Semiconductors will be merged with chip designer and producer Freescale Semiconductor in $40 Billion US-dollar deal, as NXP Semiconductors have purchased Freescale Semiconductor.