NXP Semiconductors N.V. (NASDAQ: NXPI) completed two acquisitions totaling $550 million in cash to expand its automotive connectivity and artificial intelligence capabilities.

The company closed its acquisition of Aviva Links on October 24 for $243 million before closing adjustments. Aviva Links provides Automotive SerDes Alliance compliant in-vehicle connectivity solutions for automotive and industrial markets.

NXP completed its acquisition of Kinara, Inc. on October 27 for $307 million before closing adjustments. Kinara develops neural processing units for AI-powered edge systems in industrial and automotive applications.

Both transactions were finalized under agreements previously announced in December 2024 and February 2025, respectively, according to the company's press release statement.

NXP reported revenue of $12.61 billion in 2024 and operates in more than 30 countries, focusing on automotive, industrial, mobile, and communications infrastructure markets.