Wingtech Technology Co is acquiring 75.86 per cent of Nexperia, which NXP Semiconductors sold to a consortium of Chinese investors .

Chinese firm Wingtech Technology Co will buy Dutch chip maker Nexperia for US$3.6 billion

A little-known Chinese company that styles itself as one of the world’s biggest smartphone manufacturers is acquiring Dutch chip maker Nexperia for 25.2 billion yuan (US$3.6 billion), a mega-deal that needs US approval at a time American concerns about the world’s second largest economy run high.

Wingtech Technology Co is acquiring effectively 75.86 per cent of Nexperia, which NXP Semiconductors sold to a consortium of Chinese investors in 2016. It consolidates control of the Dutch chip maker under a company that assembles devices for smartphone brands from Huawei Technologies to Lenovo Group and Xiaomi Corp.

China has been trying to free itself from a reliance on foreign technology, investing billions of dollars in the semiconductors considered vital to national security.

The deal for Nexperia, however, requires approval from the Committee on Foreign Investment in the United States, an inter-agency body that has already torpedoed a number of recent high-profile deals.

Like iPhone-assembler Hon Hai Precision Industry Co, Wingtech makes devices on behalf of other brands, such as Xiaomi’s low-end Redmi. But it is now trying to build up its semiconductor capabilities including in chip design, manufacturing and packaging, and has said it is growing its research and development arms in Shenzhen, Xi’an and Shanghai.

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https://i2.wp.com/www.technologytimes.pk/wp-content/uploads/2018/10/Chinese-firm-Wingtech-Technology-Co-will-buy-Dutch-chip-maker-Nexperia-for-US3.jpg?fit=765%2C350&ssl=1https://i2.wp.com/www.technologytimes.pk/wp-content/uploads/2018/10/Chinese-firm-Wingtech-Technology-Co-will-buy-Dutch-chip-maker-Nexperia-for-US3.jpg?fit=150%2C69&ssl=1Web TeamChinaWingtech Technology Co is acquiring 75.86 per cent of Nexperia, which NXP Semiconductors sold to a consortium of Chinese investors . A little-known Chinese company that styles itself as one of the world’s biggest smartphone manufacturers is acquiring Dutch chip maker Nexperia for 25.2 billion yuan (US$3.6 billion), a mega-deal...Pakistan's Only Newspaper on Science and Technology