BERLIN (Reuters) – Dialog Semiconductor (DLGS.DE) has struck a $600 million deal with Apple (AAPL.O) to license its power management technologies and transfer some of its assets and 300 R&D staff to the U.S. technology firm.
A customer stands underneath an illuminated Apple logo as he looks out the window of the Apple store located in central Sydney, Australia, May 28, 2018. REUTERS/David Gray
The Anglo-German chip developer said on Thursday Apple would pay it $300 million in cash for the transaction and prepay a further $300 million for products to be delivered to Apple over the next three years.
Dialog also announced plans to buy back 10 percent of its outstanding shares following it third quarter results.
Reporting by Caroline Copley, editing by Riham Alkousaa