Latest Tech News: Apple has finalized a deal worth $600 with Dialog Semiconductor. Under this deal, Dialog Semiconductor will transfer all its licenses to Apple for the iPhone power management technology and transfer technical assets.
As per the details of the agreement Apple will acquire some of Dialog Semiconductors(DS) assets and 300 of its research and development staff. This amounts to almost 16 percent of DS workforce. This news has seen a hike of 34 % in the share prices of DS. It’s the highest price since 2002.
According to Dialog. Apple will pay them $300 in cash for the transaction and another $300 million for products to be delivered to Apple over the next three years.
Johny Srouji, SVP, Apple told TechCrunch – 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. 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.
Earlier in the year, 2017 Dialog shares took a tumble when the company admitted that Apple could build its own power management chips for future iPhones with the help of Dialog. Apparently, Apple was its number one customer also.
This statement backfired and caused a serious blow to the chipmaker. Dialog exclusively designs the current main power management chip for iPhone, iPad, and Apple Watch models. Apple is Dialog’s main client with and it reflects in the sales reports which contributed nearly three-quarters of its revenue in 2016.
While speaking with Reuters, Dialog CEO Jalal Bagherli said the chipmaker could now look forward to a “managed, smooth” transformation of the business as it seeks new opportunities for growth in other markets that could include home speakers, fitness trackers or smartwatches.
With this deal in action, Apple will take control of the Dialog facilities in Italy, Germany, and the U.K. Further expanding its chip research and development significantly across Europe. The deal is expected to the closed before the first half of 2019, subject to regulatory approval.
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