Asian Tech Press (Nov 28) -- The Netherlands has approved the deal for Chinese-owned company Nexperia to buy Dutch semiconductor startup Nowi, according to the latest market news.

The Dutch government said on Monday that after evaluation, it would not block the deal for Nexperia to buy Dutch chip startup Nowi Energy BV.

"There are no legal objections to the acquisition of Nowi by Nexperia," Dutch Economic Affairs Minister Micky Adriaansens said in a letter to parliament.

Nexperia also confirmed the news in an announcement on its website on Monday.

"We are pleased that, after an period of uncertainty, there is finally clarity," said Charles Smit, Director of Nexperia Netherlands. "It allows us to realise our ambitions in the Netherlands and our plans in the field of energy efficiency."

Nexperia is a Dutch subsidiary of Chinese firm Wingtech Technology Co Ltd (600745.SS), which supplies optical modules to Apple Inc.

Mainly producing semiconductor devices used in cars, Nexperia acquired Nowi, which makes battery-replacing-chips for consumer applications, in November 2022 for an undisclosed amount.

In June 2023, the Dutch government initiated a review of the acquisition on the grounds of national security under the Vifo Act, which regulates foreign direct investment.