Apple Inc. (NASDAQ:AAPL) has just made a major deal with a German-listed company that will help the company to lock in technology that’s crucial to its iPhones.Â
ReutersÂ has the details on Apple’s deal.
Apple Inc is buying the power-management technology at the heart of its iPhones in a $600 million deal with Dialog Semiconductor that also secures the German-listed companyâs role as a supplier to the U.S. tech giant.
The agreement to acquire patents and people from the Anglo-German chip designer is not only unusual, but also the largest of its kind by Apple, whose last sizeable acquisition was the $350 million purchase of Face ID creator PrimeSense in 2013.
As part of the deal, Apple will acquire patents, a 300-person engineering team, and officesÂ in Britain, Italy and Germany.
âDialog has bought itself much more than just time,â said Bankhaus Lampe analyst Karsten Iltgen. âIts Apple business has been clearly defined and put on a sound long-term footing.â
Apple Inc. shares fell $3.44 (-1.59%) in premarket trading Thursday. Year-to-date, Apple Inc. (AAPL - Get Rating) has gained 29.32%, versus a 5.65% rise in the benchmark S&P 500 index during the same period.