STMicroelectronics (STM) announced the closing of agreement with Ericsson (ERIC) merging Ericsson Mobile Platforms and ST-NXP Wireless into a 50/50 joint venture.
The deal was completed on the terms originally announced on August 20, 2008.
Ericsson contributed US$1.1 billion net to the joint venture, out of which US$0.7 billion was paid to ST.
Prior to the closing of the transaction, ST exercised its option to buyout NXP's 20% ownership stake of ST-NXP Wireless.
Alain Dutheil, presently CEO of ST-NXP Wireless and Chief Operating Officer of STMicroelectronics, would lead the joint venture as President and Chief Executive Officer.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.