Apple supplier Dialog Semiconductor is being taken over by Japanese Firm Renesas Electronics, AppleInsider reported. The deal involving the UK chip-maker is worth US$6 billion.
This includes its business in power management, charging and power conversion, Wi-Fi, and Bluetooth LE, as well as its expertise in mixed-signal integrated circuits. It is said by the companies that Dialog’s attributes will complement and expand Renesas’ existing portfolio of products. « Dialog has a strong culture of innovation along with excellent customer relationships and serves fast growing areas including IoT, industrial, and automotive, » said Renesas president and CEO Hidetoshi Shibata in a statement. « By bringing Dialog’s talented team and expertise into Renesas, together, we will accelerate innovation for customers and create sustainable value for our shareholders. » The offer value is based on Renesas paying 67.50 euro ($81.17) per share, representing a 20.3% premium over Dialog’s closing price on February 5.
Check It Out: Apple Supplier Dialog Semiconductor Taken Over by Renesas Electronics in US$6 Billion Deal
