Dialog Semiconductor Plc has completed its transaction with Apple Inc. to license certain power management technologies and assets to the mobile device giant.
The transaction will see more than 300 Dialog workers become Apple employees as part of the Hardware Technologies team. Dialog will receive $600 million in total, consisting of a payment from Apple in $300 million in cash for the transaction and a prepayment of $300 million for Dialog products to be delivered in the next three years.
For Dialog, the deal continues its transformation to a provider of differentiated custom and configurable mixed-signal ICs focused on the internet of things (IoT), mobile, automotive and computing and storage markets. For Apple, it will give the company additional engineers and products in the power management space.
