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Apple to acquire part of Dialog Semiconductor's business in $600M deal

Apple Inc. has struck a $600 million deal with Dialog Semiconductor PLC to acquire some of the British chipmaker's power management technologies, as well as several of its assets and more than 300 employees.

The U.S. tech giant will pay $300 million in cash for the deal and prepay another $300 million for the supply of Dialog chips over the next three years.

Apple's agreement with Dialog covers the development and supply of power management, audio subsystem, charging and other mixed-signal integrated chips. Apple will also take over some of Dialog's facilities in Nabern and Neuaubing, Germany; Livorno, Italy; and Swindon, U.K., along with Dialog engineers and employees who have provided chip development support for Apple.

The deal is expected to close in the first half of 2019, subject to regulatory clearance and other customary closing conditions.

Dialog intends to use the transaction's proceeds to boost its balance sheet, as well as further invest in M&A and across fields such as the internet of things, mobile, automotive and computing and storage.

In March, Apple decided to retain Dialog as its supplier for power management chips through 2019 and 2020, allaying earlier claims that the iPhone maker would end ties with the latter.