STMicroelectronics (STM.US) spends $950 million to acquire NXP's (NXPI.US) MEMS sensor business.

According to 36kr Finance APP, STMicroelectronics (STM.US) has reached an agreement with NXP Semiconductors (NXPI.US) to acquire its MEMS sensor business unit for $950 million. It is understood that NXP's business unit achieved a revenue of $300 million last year, focusing mainly on automotive safety products and industrial application sensors.