As per latest reports, Wingtech Technology Co Ltd, the world’s largest smartphone contract manufacturer is planning to acquire Dutch semiconductor firm Nexperia Holding for 25.2 billion yuan ($3.63 billion). China-based Wingtech is a contract manufacturer for the country’s largest smartphone companies including Huawei Technologies and Xiaomi Corps.
The company in a stock exchange filing said that it plans to pay 18.45 billion yuan to buy stakes from existing owners of Nexperia. With this move, Wingtech will indirectly acquire 75.86 per cent of Nexperia as a result of the deals. It’s worth mentioning that, the company announced that it will spend 6.7 billion yuan to acquire another owner of Nexperia as well.