(Yicai) Dec. 20 -- Chinese Apple supplier Luxshare Precision Industry will acquire the assembly and testing facilities of US connectivity and power solutions provider Qorvo in Beijing and Dezhou, Shandong province.

Luxshare will take over the operation and assets of the two facilities, including the properties, plants, equipment, and workforce, the Greensboro-based seller announced on Dec. 18, without disclosing the transaction amount. Meanwhile, Qorvo will maintain its sales, engineering, and customer support employees in China to continue its commitment to customers.

The transaction, expected to be completed by the first half of next year, is subject to regulatory approvals and the satisfaction of other conditions.

Once the takeover is completed, Luxshare will assemble and test products for Qorvo under a newly established long-term supply agreement, the company added, noting that the two facilities primarily support its highly integrated advanced cellular products.

"Given Luxshare's scale and well-established, high-volume manufacturing competency, we are confident that they will ensure continuity, maintain high levels of quality, and be another outstanding strategic partner in our supply chain that allows us to serve our customers worldwide," said Bob Bruggeworth, president and chief executive of Qorvo.

The acquisition is a strategic move to strengthen Luxshare's position in Apple's supply chain, analysts believe. Luxshare, which produces Apple products, such as MacBooks, iPhones, iPad cables, AirPods, Apple Watches, and Vision Pro virtual reality headsets, has strategically expanded its product portfolio through investments and acquisitions.

Editor: Futura Costaglione