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szdaily -> Markets -> 
Wingtech Technology to buy Nexperia for US$3.6b
    2018-10-30  08:53    Shenzhen Daily

A LITTLE-KNOWN Shanghai-listed firm that styles itself one of the world’s biggest smartphone manufacturers is acquiring Dutch chipmaker Nexperia for 25.2 billion yuan (US$3.6 billion).

Wingtech Technology Co. is acquiring effectively 75.86 percent of Nexperia, which NXP Semiconductors NV sold to a consortium of Chinese investors in 2016. It consolidates control of the Dutch chipmaker under a firm that assembles devices for smartphone brands from Huawei Technologies Co. to 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 agency that’s already torpedoed a number of recent high-profile deals. Concerns about China’s acquisition of technology have grown in the United States.

Wingtech itself isn’t a name that travels beyond tech industry circles. It was founded in 2006 by Zhang Xuezheng, a former engineer-turned-executive for ZTE Corp.

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

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