Wingtech, the world’s largest smartphone contract manufacturer, acquired Nexperia, a Dutch semiconductor firm, from a consortium of financial investors consisting of Beijing Jianguang Asset Management and Wise Road Capital for 25.2bn yuan ($3.62bn). Wingtech will indirectly own 76% of Nexperia as a result of the deal. The acquisition will value Nexperia at 35.1bn yuan ($5.06bn). Wingtech said it plans to get into automotive electronics after the deal is completed, currently Nexperia’s largest business, as it seeks to benefit from business demand from more sectors in the 5G era.