China’s Wingtech Technology, the world’s largest smartphone contract manufacturer, plans to acquire Dutch semiconductor firm Nexperia Holding for 25.2 billion yuan or $3.63 billion.
Wingtech, a contract manufacturer for China’s smartphone companies including Huawei Technologies and Xiaomi, said in a stock exchange filing it plans to pay 18.45 billion yuan to buy stakes from existing owners of Nexperia.

It had announced in September that it will spend 6.7 billion yuan to acquire another owner of Nexperia.

Wingtech will indirectly own 75.86 percent of Nexperia as a result of the deals.

The plan to take control of Nexperia, a semiconductor component maker that was spun off from NXP Semiconductors, is subject to regulatory approval including from the Committee on Foreign Investment in the United States (CFIUS).

Chinese regulators earlier this year thwarted Qualcomm Inc’s $44 billion deal to buy NXP amid escalating trade tensions between China and the United States.