STMicroelectronics, (NYSE: STM) today announced that it has acquired ams’ (SIX: AMS) assets related to NFC and RFID reader business. ST has acquired intellectual property, technologies, products and business highly complementary to its secure microcontroller solutions serving mobile devices, wearables, banking, identification, industrial, automotive and IoT markets. Approximately 50 technical experts from ams have been transferred to ST.

The acquired assets, combined with ST’s secure microcontrollers, position ST for a significant growth opportunity, with a complete portfolio of best-in-class technologies, products and competencies that comprehensively address the full range of the NFC and RFID markets for a wide customer base.

“Security and NFC connectivity are key prerequisites for the broad rollout of mobile and IoT devices anticipated in the coming years. This acquisition builds on our deep expertise in secure microcontrollers and gives ST all of the building blocks to create the next generation of highly-integrated secure NFC solutions for mobile and for a broad range of Internet of Things devices,” said Claude Dardanne, Executive Vice President and General Manager of STMicroelectronics’ Microcontroller and Digital ICs Group. “We welcome this highly competent team from ams into ST for the benefit of our customers.”

The first NFC controller, leveraging the acquired assets, is already sampling to lead customers, as well as a new high-performance, highly-integrated System-in-Package solution which combines this NFC controller with ST’s secure element.

ST acquired the ams assets in exchange for a (i) cash payment of $77.8 million (funded with available cash), and (ii) deferred earn-out contingent on future results for which ST currently estimates will be about $13 million but which in any case will not exceed $37 million.