Dialog Semiconductor signs $600 million licensing deal with Apple Express News
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Tim Cook, chief executive officer of Apple Inc., speaks during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Wednesday, Sept. 12, 2018.
Dialog Semiconductor has struck a $600 million deal with Apple to license its power management technologies and transfer some of its assets and 300 R&D staff to the U.S. technology firm.
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.
Shares of Dialog were seen rising 17 percent in early Frankfurt trade following news of the deal.
— CNBC contributed to this story.