Healthcare technology firm Philips has divested its computer chip subsidiary Xiver to a consortium led by Orange Mills Ventures, reported Telegraaf newspaper citing Xiver’s CEO John van Soerland.
Orange Mills Ventures is a investment vehicle of Dutch businessman Cees Meeuwis.
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Xiver, which specialises in the production of micro-electromechanical systems (MEMS), has been described as a loss-making entity.
The company employs more than 100 people, reported NL Times.
The financial details of the transaction remain undisclosed.
Xiver develops MEMS, which that integrates mechanical and electronic components on a silicon chip, for companies such as Dutch semiconductor equipment maker ASML and the French defence firm Lynred.
Trade union FNV director Patrick Meerts was quoted by Dutch news agency ANP as saying: “The new management has addressed the employees with positive momentum. This has visibly strengthened the trust in the management of the people.”
This sale is in line with Philips’ historical trend of divesting semiconductor-related businesses, which in the past included ASML, NXP, and Nexperia.
Recently, NXP, a Dutch chipmaker, agreed to acquire Austrian technology company TTTech Auto for $625m (€606m).
This acquisition is aimed at strengthening NXP’s position in the Software-Defined Vehicle (SDV) market, bringing in around 1,100 engineers and TTTech Auto’s intellectual property to NXP’s automotive division.
TTTech Auto is known for its middleware that facilitates the integration of automotive operating systems with applications while ensuring safety-critical functions are maintained.
