Synaptics Inc. has signed an agreement to acquire certain assets and manufacturing rights to Broadcom’s wireless internet of things (IoT) business.
Under the agreement, Synaptics will acquire certain rights to Broadcom’s existing Wi-Fi, Bluetooth and Global Positioning System (GPS)/Global Navigation Satellite System (GNSS) products targeted for the IoT markets as well as future devices designed at advanced process nodes.
The $250 million deal is expected to add about $65 million in sales to Synaptics with future growth potential possible. The transaction has been approved by the board of directors at Synaptics and is expected to close in the first fiscal quarter of 2021 subject to customary closing conditions.
Synaptics said the range of devices will be appropriate for applications such as IP cameras, smart displays, speakers, home automation and gaming consoles that require technologies such as Wi-Fi 6 and 6E, Bluetooth 5.2 and GPS L5.
