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.