NXP Semiconductors said on Sunday that it would buy a smaller peer,Freescale Semiconductor, in an $11.8 billion deal that would create a big maker of chips for industries as varied as automobiles and mobile payments.
The merger will also offer some relief to the private equity firms that bought Freescale at the height of the leveraged buyout boom, only to see the financial crisis bring the company low.
A combination would help the two chip manufacturers in their dealings with customers like car companies and phone makers that are looking to consolidate their lists of suppliers.
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