Silicon Labs has completed the divestiture of its infrastructure and automotive business to Skyworks Solutions.
The all-cash transaction will position Silicon Labs as a pure play provider of wireless connectivity for markets such as the internet of things (IoT) and other wireless connectivity segments.
Silicon Labs said it expects a significant portion of the net proceeds of about $2.3 billion after taxes and transaction costs to return about $2.0 billion to shareholders through share repurchases and dividends.
