LONDON – NXP Semiconductor NV (Eindhoven, The Netherlands), a chip company that has been undergoing a strategic overhaul and downsizing, after being loaded with debt by private equity buyers, has announced that Nutune, a joint venture, has been sold to affiliates of American Industrial Acquisition Corp. (AIAC).
Nutune was formed as a joint venture with Technicolor Inc. in June 2008 to combine NXP's and Technicolor's can TV tuner operations.
Nutune, headquartered in Singapore has 2,950 employees worldwide, including 2,800 manufacturing employees in Batam, Indonesia. The revenue of Nutune was approximately $79 million in the first three quarters of 2010. Details of the acquisition were not disclosed.
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