The acquisition has now received eight of nine approvals around the world, with China remaining to give the nod.

Qualcomm cooperated with the Commission and the KFTC and agreed to all conditions required by the agencies to obtain their authorisation.

Under the agreement, Qualcomm committed to exclude specific near-field communication (NFC) patents from the proposed transaction and ensure that NXP licenses those patents to third parties.

Qualcomm also promised not to assert the NFC patents it will acquire from NXP and maintain interoperability between Qualcomm’s baseband chipsets and NXP’s NFC chips and rivals baseband chipsets and NFC chips.

The chipmaker agreed to license MIFARE on terms commensurate with those offered by NXP today.

Qualcomm Chief Executive Officer Steve Mollenkopf was pleased that both the European Commission and the Korean Fair Trade Commission have granted authorisation of the NXP acquisition, and he was optimistic that China would follow.

“Acquiring NXP is complementary to Qualcomm’s global portfolio, providing tremendous scale in automotive, IoT, security and networking and will greatly accelerate our ability to execute and create value in new and adjacent opportunities”, Mollenkopf said.