Chip makers will merge in deal worth $11.8 billion

NXP Semiconductors said on Sunday that it would buy a smaller peer, Freescale Semiconductor, in an $11.8 billion deal that would create a big maker of chips for industries as varied as automobiles and mobile payments.The merger will also offer some relief to the private equity firms that bought Freescale at the height of the leveraged buyout boom, only to see the financial crisis bring the company low.NXP is Dutch, and I have to admit, seeing a Dutch chip maker acquire Freescale makes me feel a little bit proud. Together with ASML, my little swamp does contribute at least something to the world of computing.