Philips sold its MEMS chip factory to Dutch investors, forming Xiver under John van Soerland, emphasizing core health technology focus and innovative growth strategy.
Van Soerland, although retired, is excited to lead Xiver, aiming to leverage existing expertise, retain the original 110-strong team, and expand in the MEMS market.
Philips continues to divest non-core activities, maintaining a strategic focus on health technology while enabling ASML and NXP's growth outside its business.
The acquisition marks a significant transition for Philips as it authenticates its commitment to core competencies while fostering innovation in the region's MEMS sector.
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