Dialog Semiconductor Plc.: Dialog Semiconductor Announces Closing of Strategic Partnership and Technology Licensing deal with Apple; Closing conditions met ahead of schedule, including State Administration for Market Regulation (SAMR) China and other regu

LONDON, UK / ACCESSWIRE / April 8, 2019 / Dialog Semiconductor Plc (XETRA:DLG), today announced the completion of its previously announced transaction with Apple to license certain power management technologies and transfer certain assets to Apple. Additionally, more than 300 Dialog professionals will become Apple employees, adding their talents to Apple's industry-leading Hardware Technologies team. Signed in October 2018, Dialog will receive $600 million in total, consisting of a payment from Apple of $300 million in cash for the transaction and prepayment of $300 million for Dialog products to be delivered over the next three years. Dialog has also been awarded a broad range of new contracts from Apple for the development and supply of other mixed-signal integrated circuits.

"This transaction accelerates Dialog's transformation to a market-leading provider of differentiated custom and configurable mixed-signal integrated circuits (ICs) across a broader customer base. We are moving forward to the next phase of growth with a strategic focus on fast-growing segments of the IoT, Mobile, Automotive and Computing & Storage markets," said Jalal Bagherli, CEO of Dialog Semiconductor. "This agreement reaffirms our long-standing relationship with Apple and gives me great confidence in the future of our business."

"Apple is excited to welcome more than 300 talented engineers and other employees from Dialog who have extensive chip development expertise and deep knowledge of our products," said Johny Srouji, Apple's senior vice president of Hardware Technologies. "We look forward to continuing our relationship with Dialog and expanding our team focused on designing breakthrough technologies that enable the world's best user experiences."

Dialog and the Dialog logo are trademarks of Dialog Semiconductor plc or its subsidiaries. All other product or service names are the property of their respective owners. (c) Copyright 2019 Dialog Semiconductor. All rights reserved.

For further information please contact

Investor Relations Contacts: Media Contacts:
Jose Cano Mark Tyndall
Head of Investor Relations SVP Corporate Development & Strategy
Dialog Semiconductor Dialog Semiconductor
Phone: [phone] Phone: [phone]
[e-mail]

Anja Meusel Matt Dixon
FTI Consulting Frankfurt FTI Consulting London
Phone: [phone] Phone: [phone]
[e-mail] [e-mail]

About Dialog Semiconductor
Dialog Semiconductor is a leading provider of integrated circuits (ICs) that power mobile devices and the Internet of Things. Dialog solutions are integral to some of today's leading mobile devices and the enabling element for increasing performance and productivity on the go. From making smartphones more power efficient and shortening charging times, enabling home appliances to be controlled from anywhere, to connecting the next generation of wearable devices, Dialog's decades of experience and world-class innovation help manufacturers get to what's next.

Dialog operates a fabless business model and is a socially responsible employer pursuing many programs to benefit the employees, community, other stakeholders and the environment it operates in. Dialog Semiconductor Plc is headquartered in London with a global sales, R&D and marketing organization. In 2018, it had approximately $1.44 billion in revenue and was one of the fastest growing European public semiconductor companies. It currently has approximately 1,850 employees worldwide. The company is listed on the Frankfurt (FWB: DLG) stock exchange (Regulated Market, Prime Standard, ISIN GB0059822006) and is a member of the German TecDax.

Contact:
Jose Cano
Director, Investor Relations
[e-mail]
[phone]

SOURCE: Dialog Semiconductor Plc

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https://www.accesswire.com/541284/Dialog-Semiconductor-Announces-Closing-of-Strategic-Partnership-and-Technology-Licensing-deal-with-Apple-Closing-conditions-met-ahead-of-schedule-including-State-Administration-for-Market-Regulation-SAMR-China-and-other-regulatory-approvals