Original sentence: MIFARE is the NXP Semiconductors-owned trademark (a spin-off company formed out of Philips Semiconductors) of the reputedly most widely installed contactless smartcard, or proximity card, technology in the world with (according to the producer) over 1 billion smart card chips and 10 million reader modules sold
Edited sentence: MIFARE is the NXP Semiconductors (a spin-off company formed out of Philips Semiconductors)-owned trademark of the reputedly most widely installed contactless smartcard, or proximity card, technology in the world with (according to the producer) over 1 billion smart card chips and 10 million reader modules sold