Apple signs $600mn deal with Dialog Semiconductor, including 300 members of staff
The US-based technology giant, Apple, has signed a US$600mn deal with the UK-based Dialog Semiconductor.
The deal will see the British firm license Apple’s power management technologies, as well as transfer the firm 300 members of staff and assets.
Apple will acquire the R&D employees, which focus on computer chip engineering, from the UK, Italy, and Germany.
The US company will pay Dialog Semiconductor $300mn in cash for the transaction, as well as paying $300mn in advance for the products it will receive over the next three years.
“This transaction reaffirms our long-standing relationship with Apple, and demonstrates the value of the strong business and technologies we have built at Dialog,” remarked Jalal Bagherli, the CEO of Dialog.
“Going forward, we will have a clear strategic focus, building on our custom and configurable mixed-signal IC expertise and worldclass power-efficient design.”
“Our execution track record, deep customer relationships, and talented employees give us great confidence in our future growth prospects.”
“We believe that this transaction is in the best interests of our employees and shareholders who will benefit from a business with enhanced focus, strong growth prospects and additional financial flexibility to invest in strategic growth initiatives.”
This marks one of the phone manufacturers largest takeovers in regards to headcount, the BBC reported.
“Dialog has deep expertise in chip development, and we are thrilled to have this talented group of engineers who’ve long supported our products now working directly for Apple,” commented Johny Srouji, Senior Vice President of Hardware Technologies at Apple.
“Our relationship with Dialog goes all the way back to the early iPhones, and we look forward to continuing this long-standing relationship with them.”
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