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Nexperia, a developer of discretes, logic and MOSFET devices, today announced the successful completion of a refinancing of its current facilities with USD 800 million equivalent of senior credit facilities. This includes a significant proportion of Revolving Credit facility. The proceeds will be used to refinance existing outstanding debt and for Capex expenditure to fund future growth.

The facilities were arranged by Bank of America Merrill Lynch and HSBC, acting as Global Coordinators, and were syndicated by a group of nine global banks. The refinancing is fully supported by JAC Capital and Wise Road Capital, Nexperia’s two main shareholders, and provides a flexible financing package at very attractive terms to support the further growth of Nexperia going forward.

Comments from Frans Scheper, Nexperia’s CEO: “This is the first time that Nexperia has approached the financial markets as an independent company, so we are very pleased with the enthusiastic response. Refinancing the outstanding debt will result in significant savings and give us greater flexibility, while the extra credit will enable us to pursue our ambitions fully with investment in new facilities and manufacturing technology.”

Nexperia is a Netherlands-headquartered, global manufacturer of discrete semiconductor components. The company is investing in increasing its capacity and footprint, having recently made a significant expansion to its Guangdong Assembly and Test Facility in China.

SEMI, the industry association representing the global electronics manufacturing supply chain, and TechSearch International today reported that the global semiconductor packaging materials market reached $16.7 billion in 2017. While slower growth of smartphones and personal computers – the industry’s traditional drivers – is reducing material consumption, the slowdown was offset by strong unit growth in the cryptocurrency market in 2017 and early 2018. Flip chip package shipments into the cryptocurrency market, while providing a windfall to many suppliers, are not expected to remain at high levels.

The Global Semiconductor Packaging Materials Outlook shows that, despite growth in automotive electronics and high-performance computing, continuing price pressure and declining material consumption will constrain future material revenue growth to steady single-digits, with the materials market forecast to reach $17.8 billion in 2021. IC leadframes, underfill, and copper wire are among the materials segments that will see single-digit unit volume growth through 2021.

Laminate substrate suppliers participating in the sale of flip chip substrates for cryptocurrency saw volume increases in 2017, but this segment continues to be battered by increased use of multi-die solutions and the shift to wafer level packages (WLPs), including fan-out WLP, slowing growth. Wafer-level packaging (WLP) dielectrics and plating chemistry suppliers will experience stronger revenue growth as the adoption of advanced packaging continues.

Over the next several years, advances in the semiconductor materials market will present a number of opportunities driven by trends including:

  • Continued adoption of FO-WLP including FO-on-substrate solutions with high density geometries down to 2µm lines and spaces
  • Liquid crystal polymer (LCP) under consideration as a possible material option because of its good electrical performance and low moisture absorption, especially for mmWave applications such as 5G
  • Adoption of low-cost package solutions such as MIS and other routable-QFN technologies
  • PPF QFN volumes are rising with automotive applications, driving a requirement for roughened plating to deliver needed reliability
  • Expansion of photoresist plating capability for selective plating of leadframes
  • Thermally enhanced and high-voltage mold compounds for power and automotive devices
  • Thermally conductive die attach materials other than solder die attach for power applications

Report highlights include:

  • Laminate substrates represent the largest revenue segment of the materials market with more than $6 billion in sales for 2017.
  • Overall leadframe shipments are forecast to grow at a 3.9 percent CAGR from 2017 through to 2021, with LFCSP (QFN type) experiencing the strongest unit growth, an 8 percent CAGR.
  • Following five years of decline, gold wire shipments increased in both 2016 and 2017 though represent just 37 percent of the total bonding wire shipments in 2017.
  • Liquid encapsulant revenues totaled $1.3 billion in 2017 with single-digit expected through 2021. LED packaging applications are driving the revenue growth over the forecast period though downward pricing pressures are a constant in the market.
  • Die attach material revenues reached $741 million in 2017 with single digit growth to 2021. DAF materials will experience higher unit growth, though downward pricing trends continue.
  • Solder ball revenues reached $231 million in 2017. The revenue outlook depends on fluctuations in metal pricing.
  • The wafer-level plating chemical market was put at $263 million in 2017 with strong growth through 2021. RDL and Cu pillar will be the key growth segments.

SEMI and TechSearch International, Inc. teamed up again to develop the 8th edition of the Global Semiconductor Packaging Materials Outlook, a comprehensive market research study on the semiconductor packaging materials market. Interviews were conducted with more than 130 semiconductor manufacturers, packaging subcontractors, fabless semiconductor companies, and packaging material suppliers to gather information for the report. The report covers the following semiconductor packaging materials segments: substrates, leadframes, bonding wire, mold compounds, underfill materials, liquid encapsulants, die attach materials, solder balls, wafer level package dielectrics, and wafer-level plating chemicals.

Amkor Technology, Inc. (Nasdaq: AMKR), a provider of semiconductor packaging and test services, today announced that multiple factories have passed certification audits for IATF 16949:2016, a key certification required for manufacturers who supply products to the automotive market. IATF 16949:2016 replaces and supersedes the older ISO/TS 16949 standard.

Included in the list of factories that achieved certification is Amkor’s newest, K5 ― a facility with 2.3 million square feet of floor space located in Incheon, South Korea. K5 combines automation, world class particle control and automotive processes to meet stringent quality and reliability requirements.

“This certification is a testament to Amkor’s significant automotive experience, as well as our exacting quality standards,” said YongChul Park, Amkor’s executive vice president, Worldwide Manufacturing. “Semiconductors are the foundation for automotive electronic systems that help keep passengers connected and safe. Certifying our factories for automotive applications offers significant growth opportunities for Amkor and enables us to deliver the leading-edge solutions our customers and automotive OEMs require.”

Automotive ICs must perform reliably under harsh conditions for extended periods of time. To deliver the durability and accuracy expected by automakers, IC suppliers are required to use specialized packaging techniques with additional process steps and controls. Amkor has factories in several countries that have achieved IATF 16949:2016 certification, including ATK, ATP, ATM, ATT, and ATC; IATF 16949:2016 certifications for J-Devices and Amkor Technology Portugal are in process. For more information, visit https://amkor.com/quality-management/.

POET Technologies Inc. (“POET”) (TSX Venture:PTK) (OTCQX:POETF), a designer, developer and manufacturer of optoelectronic devices, including light sources, passive wave guides and Photonic Integrated Circuits (PIC), today announced a master collaboration agreement with SilTerra, a Malaysia-based semiconductor wafer foundry, for the co-development of certain fabrication processes and the manufacturing of POET’s Optical Interposer Platform. The partnership is expected to accelerate the path to commercial production of the Optical Interposer, which will enable optical engines for single-mode transceiver modules and other high bandwidth devices.

Together, the companies will bring-up critical waveguide processes previously developed by POET for its Optical Interposer, and implement the process flows on newly purchased equipment at SilTerra’s world-class 8″ silicon foundry in Kulim, Malaysia. In support of this activity, SilTerra has agreed to assist financially with the purchase of specialized semiconductor fabrication and testing equipment, as well as to share certain costs associated with facilities enhancements and installation of equipment for manufacturing the Optical Interposer. Additionally, the collaboration includes a wafer purchase agreement for the manufacturing of prototype, initial production and volume production wafers.

POET’s Chief Executive Officer, Dr. Suresh Venkatesan, commented, “Following several months of preliminary collaborative work together, this agreement with SilTerra represents a significant milestone toward our goal of commercializing POET’s Optical Interposer Platform. The combined resources and investments of the two companies enables us to establish a unique manufacturing process as well as a reliable supply of wafers for our Optical Interposer. SilTerra offers POET a truly unique combination of advanced 90 nanometer lithography, cost-effective 8″ silicon processing copper metallization and MEMS capabilities, all of which are needed for our Optical Interposer. As a result of this partnership, POET has now secured a key element in the commercialization process allowing us to establish more engagements with prospective customers.”

Firdaus Abdullah, SilTerra’s Chief Executive Officer stated, “SilTerra is delighted to be working with POET in what we regard as a key strategic engagement to address the increasing need for cost-effective solutions for Data Center Interconnects through the innovative use of silicon in photonics.  POET’s Optical Interposer is a major advance over other approaches to optical interconnects and facilitates the co-packaging of electronics and photonics devices in a single Multi-Chip-Module (MCM). POET’s “Photonics-in-a-package” solution has the potential to address even larger markets in the future for the integration and co-optimization of ASIC’s and DSP’s with photonics at the interposer and chip level.  We at SilTerra look forward to a long and prosperous relationship between our two companies and our teams.”

The Master Collaboration Agreement between POET Technologies and SilTerra Malaysia Sdn Bhd was signed on April 6, 2018 and includes provisions for multiple co-development projects, consignment by POET of newly purchased equipment to be installed in SilTerra’s Malaysian foundry, various support services to be provided by SilTerra and the purchase of wafers containing Optical Interposer devices from SilTerra over an initial three-year term.

By Jamie Girard, Sr. Director, Public Policy, SEMI

Although many months past due, Congress on March 23 finalized the federal spending for the remainder of fiscal year (FY) 2018, only hours before a what would have been the third government shutdown of the year. Congressional spending has been allocated in fits and starts since the end of FY 2017 last September, with patchwork deals keeping things running amid pervasive uncertainty. While this clearly isn’t an ideal way to fund the federal government, the end result will make many in the business of research and development pleased with the addition of more resources for science and innovation.

There was grave concern over the future of federal spending with the release of the president’s FY 2018 budget, which would have cut the National Science Foundation (NSF) budget by 11 percent and National Institutes of Standards & Technology (NIST) spending by 30 percent. Relief came with early drafts from Congress that whittled those cuts down to between 2-9 percent. But the real boost was a February bipartisan Congressional agreement that lifted self-imposed spending caps and introduced a generous dose of non-defense discretionary spending, increasing NSF spending 3.9 percent over the previous year and the NIST budget an astounding 25.9 percent over FY 2017 levels.

SEMI applauds this much-needed support for basic research and development (R&D) at these agencies after their budgets were cut or flat-funded for multiple cycles. It is well understood that federal R&D funding is critical to U.S. competitiveness and future economic prosperity. With the stakes that high, full funding of R&D programs at the NSF and NIST should be a bipartisan national priority backed by a strong and united community of stakeholders and advocates in the business, professional, research, and education communities.

With the work for FY 2018 completed, Congress will now turn to FY 2019 spending – already behind schedule due to the belated completion of the previous year’s budget. With 2018 an election year, Congress will likely begin work on the FY 2019 budget in short order, but probably won’t complete its work prior to the November elections.  SEMI will continue to work with lawmakers to support the R&D budgets at the agencies and their important basic science research. If you’d like to know how you can be more involved with SEMI’s public policy work, please contact Jamie Girard, Sr. Director, Public Policy at [email protected].

Bringing together a technical program that encompasses ‘big integration’ of a number of critical industry trends – machine learning, IoT, artificial intelligence, wearable/implantable biomedical applications, big data, and cloud computing – the 2018 Symposia on VLSI Technology & Circuits will showcase a convergence of technologies needed for ‘smart living.’ As the microelectronics industry’s premiere international conference covering technology, circuits, and systems, the Symposia continues to define the evolution of innovations that will shape the future of our increasingly connected world.

The Symposia theme of “Technology, Circuits & Systems for Smart Living” connects the related plenary presentations, panel discussions, focus sessions, short courses, along with a new Friday Forum on machine learning to provide a unique synergy between advanced technology developments, innovative circuit design, and the applications that they enable – as part of our global society’s transition to a new frontier of smart, connected devices and systems that change the way humans interact with technology – and with each other.

“This year’s Technology program is focused on the critical building blocks needed to realize a truly integrated IoT,” said Mukesh Khare, Symposium on VLSI Technology general chair. “Advanced memory technologies for AI and machine learning, the next wave of advanced computing (supercomputing/cloud/neuromorphic), the cutting edge of CMOS scaling (beyond 5nm/nanowire devices), and the advanced low-power sensors needed to connect them all are just some of the highlights of the Technology program.”

“The Circuits program will examine how the next wave of computing systems need to be designed to realize the potential of AI, machine learning, SOC technology, wearable/implantable biomedical systems, and the IoT,” explained Gunther Lehmann, Symposium on VLSI Circuits general chair. “A demonstration session that showcases real-life applications is designed to enable conference participants to see these innovations first hand.”

The Symposia will also include a series of joint focus sessions that include invited and contributed papers on topics of mutual interest to both technology and circuit attendees. As part of the unique Symposia program, these joint Technology & Circuits focus sessions enable participants to engage in meaningful interaction with their colleagues in different disciplines. In addition, there will be a joint evening panel session by leading industry experts to address critical issues surrounding major industry developments.

Capping off the joint Symposia program will be a series of nine presentations comprising the Friday Forum on machine learning, a subject area that continues to evolve as an impactful driver of the integrated systems that are part of the Symposia’s “Smart Living” theme.

The annual Symposium on VLSI Technology & Circuits will be held at the Hilton Hawaiian Village in Honolulu, Hawaii from June 19-21, 2018, with Short Courses held on June 18 and a special Friday Forum dedicated to machine learning/AI topics on June 22. The two conferences have been held together since 1987, providing an opportunity for the world’s top device technologists, circuit and system designers to exchange leading edge research on microelectronics technology, with alternating venues between Hawaii and Japan. A single registration enables participants to attend both Symposia.

The Symposium on VLSI Technology is sponsored by the IEEE Electron Devices Society and the Japan Society of Applied Physics, in cooperation with the IEEE Solid State Circuits Society.

The Symposium on VLSI Circuits is sponsored by the IEEE Solid State Circuits Society and the Japan Society of Applied Physics, in cooperation with the Institute of Electronics, Information and Communication Engineers.

By Ando Yoichiro, SEMI Japan

In Tokyo, Shanghai, Moscow, London, Paris or New York – wherever you are in the world –Japanese vehicles passing by on the roadways are a common sight. Three big reasons are their high quality, reliability and engineering. But Japan’s automakers are also legendary for their industry breakthroughs. A few highlights:

  • In 1981, Honda introduced the first commercially available map-based car navigation system. The carmaker’s Electro Gyro-Cator used a gyroscope to detect rotation and other movements of the car.
  • In 1990, Mazda equipped its COSMO Eunos with the world’s first built-in GPS-navigation system.
  • In 1997, Toyota launched the world’s first mass-produced hybrid car — Prius.
  • In 1997, Toyota unveiled the world’s first production laser adaptive cruise control on its Celsior.
  • In 2009, Mitsubishi rolled out the world’s first mass-produced electric car – i-MiEV.

Off the roadways and often unheralded, it is supply chain companies including Japanese semiconductor makers that were a key engine of these innovations as they continue their rich history of driving automotive advances. Here’s a closer look at some of the key players and why they matter.

Who Makes Automotive Semiconductors?

Unlike other semiconductors, automotive chips are manufactured not only by integrated device manufacturers (IDMs) but also by captive fabs and automotive components makers such as Toyota and Denso.

Denso, headquartered in Aichi prefecture, started in 1949 as a spin-off of Toyota’s electric components unit. Since 2009, the company has been the world’s largest automotive components supplier. Because Denso’s chips are mostly consumed internally, the company’s manufacturing revenue is not publicly available, but analysts estimate Denso’s chip business exceeds 200 billion JPY or USD $1.9 billion.

Denso fab (source: Denso)

Denso fab (source: Denso)

Denso manufactures semiconductor components at two locations. Its Kota plant in Aichi prefecture manufactures power and logic chips, and the company’s Iwate (Iwate prefecture) facility, acquired from Fujitsu in 2012, produces semiconductor wafers and sensors.

Denso is developing SiC wafers for its power chips and plans to manufacture SiC inverters by 2020. Recently, the company announced joint research on Ga2O3 for power devices with FLOSFIA, a tech startup spun off from Kyoto University. In 2017, Denso established a semiconductor IP design company, NSITEXE, in Tokyo to design semiconductor IP cores – the semiconductor components that are key to autonomous driving.

Toyota has been manufacturing semiconductor chips at its Hirose Plant since 1989. The semiconductor fab design and manufacturing technologies originated at Toshiba and moved to Toyota under a technology transfer agreement signed in 1987. In the power semiconductor arena, Toyota is jointly developing SiC devices with Denso and Toyota Central Research and Development Labs.

Other car and component makers like Honda, Nissan, Hitachi Automotive Systems, Aishin Seiki and Calsonic Kansei are also developing and designing semiconductor chips.

Microcontroller Units                                     

Microcontrollers (MCUs) were first employed in automobiles in the late 1970s to electronically control engines for higher fuel efficiency. Today, up to 80 MCUs are typically used in a car for powertrain controls (engine, fuel management and fuel injection), body controls (seat, door, window, air conditioning and lighting), safety controls (brake, EPS, suspensions, air bags and anti-collision) and infotainment.

In December 2015, the microcontroller unit (MCU) supply chain experienced a major consolidation with the nearly $12 billion acquisition of Freescale Semiconductor by NXP Semiconductors, catapulting NXP to the top of the MCU market. NXP and Freescale were ranked second and third in global market share, after Renesas Electronics, at the time.

Renesas held 40 percent global market share before its Ibaraki fab suffered severe earthquake damage in 2011 and hemorrhaged share after the loss of production capacity.  Renasas continues to recapture market share at a rapid clip, with a growth rate of 5.2 percent and 24.6 percent, respectively, in the first two quarters of 2017, and claims it still leads the global MCU market for automotive applications with 30 percent share (source: Diamond Online, August 2017).

Renesas was established as a joint venture of Hitachi and Mitsubishi and later merged with NEC Electronics. Consequently, Resesas’s MCUs, designed with Hitachi’s SH MCU cores, recently began a gradual shift to Arm cores. Renasas MCUs designed at 40nm or less nodes have been manufactured at TSMC, a Taiwan foundry, since 2012.

Renesas’s microcontrollers in a car (source: EE News Europe Automotive)

Renesas’s microcontrollers in a car
(source: EE News Europe Automotive)

CMOS Image Sensors

CMOS image sensors serve as eyes of cars, performing camera functions on-chip. Today, automobiles typically are fitted with about 10 CMOS image sensors, a number forecast to grow to almost 20 by 2020 (source: Monoist, 2016). The sensor was originally used as a backup monitor but deployments grew with the advent of Advanced Driver-Assistance Systems (ADAS). The CMOS image sensor market is estimated to reach $2.3 billion USD by 2021, according to IC Insights. Sony is the global CMOS image sensor market leader, and ON Semiconductor and OmniVision Technology are big players in this growing segment.

In 2016, Denso started using Sony’s CMOS image sensors to detect pedestrians during night driving. Sony manufactures CMOS sensors at Kumamoto TEC and Nagasaki TEC on Kyusyu Island. In 2017, Sony acquired Toshiba’s Oita plant to increase the capacity to respond to the growing demand for backside illumination CMOS image sensors for higher resolution images at a low-light environments.

Sony’s 7.42 megapixel CMOS image sensor for automotive cameras (source: Sony Corporation)

Sony’s 7.42 megapixel CMOS image sensor for automotive cameras
(source: Sony Corporation)

Power Devices

Power semiconductors provide electrical control functions such as rectification, voltage regulation (boost/step-down), and DA/AD conversion. The automotive industry’s migration from fossil fuel vehicles to hybrid and electric vehicles is driving strong demand for power devices. The leading power device makers are competing to develop higher performance devices on new materials such as SiC and GaN.

For the past five years, the Japan government has funded SiC power device research and development (R&D) projects and, in 2016, the National Institute of Advanced Industrial Science and Technology (AIST) and Sumitomo Electric Industries built a 150mm SiC wafer line at AIST’s Super Clean Room Facility in Tsukuba, Ibaraki. The facility supports volume manufacturing, reliability testing and quality assurance.

Rohm is driving the Japan SiC power device industry. Rohm manufactures SiC power devices on 75mm, 100mm and 150mm wafers. In 2009, Rohm acquired a German SiC wafer maker, SiCrystal, which started supplying 150mm wafers to Rohm in 2013. Rohm also acquired Renesas Electronics’s Shiga plant (200mm line) in 2016 to manufacture SiC power and other discrete devices.

Fuji Electric manufactures various power products including SiC power devices. Fully 30 percent of its products ship to the automotive industry. In 2013, the company built a new SiC line in its Matsumoto plant that includes both wafer process and packaging facilities. Fuji Electric now develops high-performance SiC devices on the latest 150mm SiC wafer technology.

Toyota and Denso round out the Japan SiC power device industry. Denso markets its 150mm SiC technology under the “REVOSIC” brand. In 2013, Toyota built a SiC R&D facility at its Hirose plant for future SiC captive manufacturing.

SiC power semiconductors to improve vehicle’s fuel efficiency by 10 percent (target) (source: Toyota Motor Corp.)

SiC power semiconductors to improve vehicle’s fuel efficiency by 10 percent (target)
(source: Toyota Motor Corp.)

SEMICON will Update You on Automotive Semiconductor Market

Heavy investments in the development of autonomous vehicles and the continuing expansion of the electric car market promise to bolster the automotive semiconductor market in the coming years and beyond. In light of Japan’s leading automotive chip manufacturing industry, SEMICON Japan and all other SEMICON shows in 2018 will spotlight this important segment.

Originally published on the SEMI blog.

UnitySC, a developer of advanced inspection and metrology solutions, today announced it acquired 100% of the shares of HSEB Dresden, GmbH (HSEB), a supplier in optical inspection, review and metrology for high-value semiconductor applications. Following the acquisition, the new entity’s extended line of leading-edge process control solutions will provide a unique and essential inspection and metrology capability to semiconductor manufacturers. Together, the entity’s offerings span substrate, front-end-of-line (FEOL) manufacturing, wafer-level packaging, 3D ICs and power semiconductors. Further, bringing together the two companies will strengthen worldwide customer support for all platforms.

The combined product portfolio and future common platforms of UnitySC and HSEB will support manufacturing of devices used in mobility, automotive and internet of things applications. Combined, these markets are expected to reach a 14% CAGR, far outpacing the 8% growth forecast of the rest of the semiconductor industry. This will require the expansion and construction of new manufacturing facilities with novel equipment lines.

“Thanks to the proprietary technologies developed by both companies, this strategic acquisition further strengthens our capacity for development and innovation, enabling us to be the preferred partner to meet new customer requirements,” said Patrick Leteurtre, president of UnitySC. “Our product portfolio now spans the spectrum required for substrate control of new FEOL, advanced packaging applications such as fan-out wafer-level packaging, embedded dies and through silicon vias, resulting in a value-added market positioning that will further accelerate our growth.”

The new entity is distinguished by its strong semiconductor legacy and focus on technology development. More than 50% of its 140 employees are dedicated to R&D. Its extensive patent portfolio comprises 46 key patent families related to new semiconductor applications, and the management team is deeply rooted in the semiconductor industry. 

UnitySC and HSEB products are already in service in the top five foundries and the top 10 OSATs, supported by an experienced service team. The acknowledgment of its products as tools-of-record by customers working on next-generation processes has generated a growth rate of more than 50% in a market that generally does not exceed 10% CAGR.

At closing, UnitySC paid an undisclosed fixed price for 100% of the shares of HSEB. Jointly, the two entities achieved a turnover of $20 million in 2017, and recorded $22 million in bookings by the end of February 2018.

Synopsys, Inc. (Nasdaq: SNPS) today announced it is hosting an advanced-technology panel on “EUV, High-NA, Metallurgy and FinFET++ – Where We Go from Here for Next-Generation Design” at the Synopsys Users Group (SNUG®) Silicon Valley event on Thursday, March 22, at the Santa Clara Convention Center in Santa Clara, California.

The panel will bring together prominent industry leaders from ASML, Inc., Samsung Foundry, and Qualcomm, Inc. (representing the perspectives of manufacturing, foundry, and end-user design, respectively) to discuss the challenges, opportunities and technology roadmaps inherent in driving system-on-chip (SoC) solutions beyond the 5nm process node. EDA representatives from Synopsys will include Dr. Henry Sheng, group director of R&D in the Silicon Design Group, and Dr. Victor Moroz, Synopsys Fellow in the Silicon Engineering Group.

Since 1991, SNUG has represented a global design community focused on innovating from Silicon to Software. Today, as the electronics industry’s largest user conference, SNUG brings together nearly 10,000 Synopsys tool and technology users across North America, Europe, Asia, and Japan. In addition to peer-reviewed technical papers and insightful keynotes from industry leaders, the exclusive SNUG events provide a unique opportunity to connect with Synopsys executives, design ecosystem partners, and members of the local design community.

Qualcomm Incorporated (NASDAQ: QCOM) today announced that Dr. Paul E. Jacobs will no longer serve as Executive Chairman of the Qualcomm Board of Directors. Dr. Jacobs will continue to serve on the Qualcomm Board, but will no longer serve in an executive management capacity. The Board has discontinued the role of Executive Chairman, which was established in 2014 as part of a leadership transition plan, based on its belief that an independent Chairman is now more appropriate for Qualcomm. The Board has named Jeffrey W. Henderson, an independent Qualcomm director since 2016, to serve as Non-Executive Chairman.

Tom Horton, Lead Director, said, “The Board is committed to the principles of strong corporate governance and believes that having an independent director as Chairman at this important juncture in Qualcomm’s history is in the best interest of the Company and our stockholders. We are unanimous in our view that Jeff is the ideal choice for this role based on his deep financial, operational, and international experience as well as his strong stockholder orientation. We are focused on maximizing stockholder value, and will consider all options to achieve that objective, as we seek to move Qualcomm forward by closing the acquisition of NXP, strengthening our licensing business, and capitalizing on the enormous 5G opportunity before us.”

Mr. Horton continued, “On behalf of the entire Board, I want to thank Paul for his tireless dedication to Qualcomm over many years. Paul is a technology visionary whose ideas and inventions have contributed significantly to the growth of both the Company and the industry.  Paul has led the development of generations of semiconductors that have fueled smart phones and the worldwide wireless revolution of the past 30 years. His deep expertise, coupled with a focus on innovation, have made Qualcomm a leader in critical technologies and positioned us at the forefront of the industry. We are grateful to have Paul’s continued contributions as a member of the Board.  His extensive knowledge of our business, products, strategic relationships and opportunities, as well as the rapidly evolving technologies and competitive environment in our industry, are invaluable to our Board.”

About Paul Jacobs

Dr. Jacobs has served as Chairman of the Board of Qualcomm since 2009, as Executive Chairman since 2014 and as a director since 2005. He served as Chief Executive Officer from 2005 to 2014, Group President of Qualcomm Wireless & Internet from 2001 to 2005, and as an executive vice president from 2000 to 2005. Dr. Jacobs serves on the Board of Directors for FIRST(R), OneWeb, Light and Dropbox. He holds a B.S. degree in electrical engineering and computer science, an M.S. degree in electrical engineering, and a Ph.D. degree in electrical engineering and computer science from the University of California, Berkeley.  Dr. Jacobs was elected to the National Academy of Engineering in 2016 and the American Academy of Arts & Sciences in 2017.

About Jeffrey Henderson

Mr. Henderson has deep financial, operational, and international experience at major corporations.  He served as Chief Financial Officer of Cardinal Health Inc. from 2005 to 2014. Prior to joining Cardinal Health, Mr. Henderson held management positions at Eli Lilly and General Motors, including serving as President and General Manager of Eli Lilly Canada, Controller and Treasurer of Eli Lilly Inc., and in management positions with General Motors in Great Britain, Singapore, Canada and the U.S.  He is currently an Advisory Director to Berkshire Partners LLC, a private equity firm. He is also a director of Halozyme Therapeutics, Inc. and FibroGen, Inc. Mr. Henderson holds a B.S. degree in electrical engineering from Kettering University and an M.B.A. degree from Harvard Business School.