Apple taking on 300 engineers from UK firm
Apple is set to take on 300 computer chip engineers from one of its UK-headquartered suppliers as part of a deal worth $600 million.
The company is paying Dialog Semiconductor $300 million (£227m) to Dialog Semiconductor for the acquisition, which also includes some of the company's patents and facilities.
It will also pre-pay $300 million for Dialog products to be delivered over the next three years.
Apple has long used Dialog's products to monitor and control power consumption in its iPhones and iPads. The employees being transferred have worked closely with Apple for many years.
"This transaction reaffirms our long-standing relationship with Apple, and demonstrates the value of the strong business and technologies we have built at Dialog," said CEO Jalal Bagherli.
Dialog has also announced that it has been awarded a range of new contracts from Apple for the development and supply of power management, audio subsystem, charging and other mixed-signal integrated circuits.
Bagherli added: "We believe that this transaction is in the best interests of our employees and shareholders who will benefit from a business with enhanced focus, strong growth prospects and additional financial flexibility to invest in strategic growth initiatives."
The transaction is expected to be completed in the first half of 2019, subject to regulatory approvals and other customary closing conditions.
Apple will employ more than 300 Dialog engineers and other employees already supporting Apple chip development, representing approximately 16 per cent of the company's total workforce.
Apple will assume certain Dialog facilities in Livorno (Italy), Swindon (UK), Nabern and Neuaubing (Germany).
Johny Srouji, Apple's senior vice president of Hardware Technologies, said: "Dialog has deep expertise in chip development, and we are thrilled to have this talented group of engineers who’ve long supported our products now working directly for Apple.
"Our relationship with Dialog goes all the way back to the early iPhones, and we look forward to continuing this long-standing relationship with them."