New Delhi, Dec 9 (IANS): NXP Semiconductors on Monday announced the completion of the acquisition of the WiFi connectivity business unit, Bluetooth technology portfolio and related assets from Marvell, another global semiconductor company, in an all-cash transaction valued at $1.76 billion.

"We are delighted to announce the closure of deal with Marvell. The combined expertise of Marvell's connectivity business with NXP will help in creating better and meaningful solutions in the areas of connectivity, IoT and security for our customers," Sanjay Gupta, Vice President and India Country Manager, NXP Semiconductors, said in a statement.

"From NXP India perspective, this has led us to come up with our 4th R&D Centre in Pune to work on the full suite of wireless connectivity spanning Wi-fi and Bluetooth Low Energy technology. Additionally, the acquisition will also increase our engineering headcount to over 2300 in India," Gupta added.

In May 2019, NXP agreed to acquire Marvell's wireless connectivity portfolio in an all-cash, asset transaction.

The acquisition will enable NXP to deliver complete, scalable processing and connectivity solutions to its customers across its end markets, including tailored security and a full suite of wireless connectivity spanning Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread and Near Field Communications (NFC).