News Releases

Synaptics to Acquire Rights to Broadcom’s Wireless IoT Connectivity Business

SAN JOSE, Calif., July 7, 2020 – Synaptics® Incorporated (Nasdaq: SYNA) today announced the signing of definitive agreements under which Synaptics will acquire certain assets and manufacturing rights associated with the wireless IoT business of Broadcom (Nasdaq: AVGO) for approximately $250 million in an all-cash transaction. Under the terms of the agreements, Synaptics will acquire certain rights to Broadcom’s existing Wi-Fi, Bluetooth and GPS/GNSS products and business in the IoT market as well as future roadmap devices designed in advanced process nodes. The acquisition further strengthens and accelerates Synaptics’ position in the fast-growing consumer IoT market.

Synaptics expects the transaction to add approximately $65 million in current annualized sales and provide significant revenue growth potential. The transaction is expected to be immediately accretive to Synaptics’ non-GAAP gross margins and non-GAAP earnings post-close.

“Expanding our offering in the high growth IoT market has been one of the major focus areas for Synaptics and the addition of best-in-class wireless connectivity technology to our portfolio significantly enhances our overall position,” said Michael Hurlston, president and CEO, Synaptics. “This acquisition complements Synaptics’ ability to sell into a broad range of devices such as IP cameras, smart displays, speakers, home automation, and gaming consoles – all of which require cutting-edge technologies including Wi-Fi 6 and 6E, Bluetooth 5.2 and GPS L5.”

The transaction, which has been approved by the board of directors of Synaptics, is expected to close in Synaptics’ first quarter of fiscal year 2021, subject to customary closing conditions. Synaptics expects to finance the transaction from its existing on-hand cash balance and is not subject to any financing conditions.

Webcast and Conference Call information:
Synaptics will host a teleconference and webcast to discuss the transaction today July 7, 2020 at 2:00 p.m. Pacific Time. To access the call dial 888-394-8218 and enter access code 5797334.

Supplementary slides and a live and archived webcast of the conference call will be accessible from the “Investor Relations” section of the company’s website at https://investor.synaptics.com/.

About Synaptics Incorporated

Synaptics (Nasdaq: SYNA) is changing the way humans engage with connected devices and data, engineering exceptional experiences throughout the home, at work, in the car and on the go. Synaptics is the partner of choice for the world’s most innovative intelligent system providers who are integrating multiple experiential technologies into platforms that make our digital lives more productive, insightful, secure and enjoyable. These customers are combining Synaptics’ differentiated technologies in touch, display and biometrics with a new generation of advanced connectivity and AI-enhanced video, vision, audio, speech and security processing.

Follow Synaptics on LinkedIn, Twitter, , and Facebook, or visit www.synaptics.com.

For Public Relations, please contact:

David Hurd

david.hurd@synaptics.com

For Investor Relations, please contact:

Jason Tsai

jason.tsai@synaptics.com

Receive the latest news