French-Italian chipmaker STMicroelectronics to acquire part of NXP Semiconductors’ sensor unit for up to $950 million. Deal expands STMicro’s sensor portfolio, including safety and monitoring sensors for vehicles and pressure sensors for industrial use. Unit generated $300 million in revenue last year. Deal includes $900 million upfront payment and $50 million for technical milestones. Expected to close in first half of 2026. Chipmakers struggling due to low demand and high inventories. STMicro reports first quarterly loss in over a decade, taking $190 million hit from restructuring and impairment costs.

Read more at Yahoo Finance: STMicro to buy part of NXP Semiconductors’ sensor business for up to $950 million