NXP sells stake in Chinese analog foundry
NXP Semiconductors NV (Eindhoven, The Netherlands) has sold its 27.47 percent stake in Advanced semiconductor Manufacturing Corporation Ltd. (Shanghai, China) for $53.7 million.

NXP sold its stake to Shanghai Pudong Science and Technology Investment Co. Ltd. ASMC is traded on the Hong Kong Stock Exchange.

ASMC runs two wafers fabs in Shanghai focused on manufacturing analog and higher bipolar content mixed-signal chips, MEMS and IGBT power devices. ASMC’s customers include IDMs and fabless chip companies in various end-market applications, including automotive, computing, communications and consumer electronics. ASMC has been a supplier to NXP.

ASMC was formed with support from Philips Semiconductors as it was then, now NXP Semiconductors, in 1988. The company was incorporated as Shanghai Philips semiconductor and then renamed as Advanced Semiconductor Manufacturing Co. Ltd. in 1995. ASMC was intended as a parallel enterprise to Taiwan Semiconductor Manufacturing Co. Ltd. (Hsinchu, Taiwan) which was founded in 1987 with a focus on digital circuits.

NXP is expected to be acquired by Qualcomm Inc. (San Diego, Calif.) for about $39 billion in a deal that should close before the end of 2017.