Philips has sold its chipmaking subsidiary, Xiver, to a consortium led by Orange Mills Ventures, marking another step in the company’s shift away from semiconductor operations, Dutch newspaper De Telegraaf reported.
Healthcare technology giant Philips (PHG.AS) has divested its Xiver computer chip subsidiary, according to a report by De Telegraaf. The sale was made to a consortium headed by Orange Mills Ventures, an investment firm led by Dutch businessman Cees Meeuwis. The financial terms of the deal have not been disclosed.
Xiver, which employs 100 people, has been described as a loss-making entity specializing in MEMS (micro-electromechanical systems). These systems integrate mechanical and electronic components on silicon chips and serve clients such as ASML (ASML.AS) and French defense company Lynred, according to Xiver CEO John van Soerland.
Philips’ Exit from Semiconductors
The sale of Xiver reflects Philips’ long-term move away from the semiconductor industry. Over the years, Philips has divested key semiconductor operations, including ASML and NXP (NXPI.O), and now focuses on healthcare equipment manufacturing.
While Philips could not immediately comment on the transaction, the sale highlights its ongoing strategy to streamline operations and focus on core business areas.
A New Chapter for Xiver
John van Soerland, a former executive at Dutch tech company VDL, is optimistic about Xiver’s future under its new ownership. With its specialization in MEMS and ties to major clients, the company may find opportunities for growth despite recent financial struggles.
This development underscores the dynamic nature of the tech sector, as companies like Philips realign their portfolios while emerging players, backed by investment groups, look to capitalize on niche markets.
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