==Qualcomm (QCOM) is in discussions to buy NXP Semiconductors (NXPI)

If completed, a deal could be valued at more than $30 billion, given NXP’s market value of roughly $28 billion as of Wednesday’s market close. Talks are continuing and could still fall apart.

A union of Qualcomm and NXP would be the latest in an industry that has recently experienced big mergers. Earlier this year, SoftBank of Japan struck a takeover deal for ARM Holdings, a British chip designer, for $32 billion.

Last year, Avago Technologies bought Broadcom for $37 billion, while Intel paid nearly $17 billion for Altera.

NXP itself has been part of the trend as well. Less than two years ago, it bought a smaller peer, Freescale Semiconductor, for $11.8 billion to gain scale and negotiating leverage with customers like car companies and phone makers.

NXP, which has its headquarters in the Netherlands but trades on the Nasdaq, has become a major supplier of chips used in near-field communications, which lets phones interact wirelessly with equipment like payment terminals.

Buying NXP would add tremendous scale to Qualcomm, which designs and makes chips primarily for smartphones. Yet the semiconductor company faced pressure from an activist hedge fund last year over its plans to spur growth. It weighed, and later abandoned, a potential split of its businesses.