NEW YORK (TheStreet) -- Qualcomm (QCOM) - Get Report shareholders are going to be "very happy" with the results of its "attractive" $47 billion deal to buy NXP Semiconductors (NXPI), Qualcomm CEO Steve Mollenkopf predicted on CNBC's "Squawk on the Street" on Thursday morning.

"Some investors I talked to this morning said it could be up to 30% accretive to earnings," noted CNBC's David Faber. 

"It's going to be significantly accretive and it's going to be accretive right away," Mollenkopf said without confirming any specifics. 

NXP has been focused on the automotive industry and the Internet of Things, which will help Qualcomm diversify its core focus on smartphones. 

Those two industries are good investments because they're about to go through significant changes, similar to the transition we witnessed between handset phones and smartphones, Mollenkopf claimed. 

"Everyone was trying to figure out how do you assemble all of the assets, the technology breadth to be successful in that huge transition. That same thing is going to happen to the Internet of Things and to the automotive, and we're happy to have the big pieces to be able to drive it," he said. 

The regulation review is expected to take over a year, with the deal closing by the end of 2017. 

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Shares of Qualcomm and NXP were higher in mid-morning trading on Thursday. 

(Qualcomm is held in David Peltier's Dividend Stock Advisor portfolio. See all of his holdings with afree trialNXP is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trial here.)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings team rates Qualcomm as a Buy with a ratings score of B. This is driven by multiple strengths, which the team believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks the team covers.

You can view the full analysis from the report here: QCOM

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