Shares in Dialog fell when Jobs’ Mob said that it planned to use chips from another supplier so this means that when Apple put in its bid the company was worth a lot less.
The move shocked the company as Apple has used Dialog power-management chips to manage their battery life. Under the deal, Apple is buying patents, a team of about 300 engineers, most of whom already worked on chips for Apple devices, and Dialog offices in Britain, Italy and Germany.
Oddly though the outfit is not selling its power management business to Apple, in fact, it will continue shipments of existing main power management integrated circuits (PMICs) to Apple, and it expects to sell current and future generations of so-called sub-PMICs to Apple.
After the deal, Dialog expects Apple to account for 35-40 percent of its total revenues in 2022. That is down from around 75 percent in the current year. Headcount will fall to 1,800.