News Wire Feed Light Reading 4/23/2021
IRVINE, Calif. Skyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high-performance analog semiconductors connecting people, places and things, today announced that it has entered into a definitive agreement with Silicon Laboratories Inc. (Nasdaq: SLAB), a leading provider of silicon, software and solutions for a smarter, more connected world, under which Skyworks will acquire the Infrastructure & Automotive business of Silicon Labs in an all-cash asset transaction valued at $2.75 billion.
Over the past two decades, Silicon Labs has developed the Infrastructure & Automotive business into a leader in each of its target markets, providing best-in-class solutions to a highly diversified customer base. The acquisition encompasses the technology portfolios and related assets of Silicon Labs power/isolation, timing and broadcast product lines, which are highly complementary to Skyworks
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CORRECTED-UPDATE 1-Silicon Labs to sell infrastructure and auto unit to Skyworks for $2.75 billion Reuters 2 days ago
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April 22 (Reuters) - Silicon Laboratories Inc said on Thursday it would sell its infrastructure and automotive business to Skyworks Solutions Inc for $2.75 billion, in a move that would let the chipmaker focus on its core business.
Shares of Silicon Labs were halted in after hours trading, while Skyworks shares were up 3.8% at $190.47.
Austin, Texas-based Silicon Labs has been in recent months focused on the internet-of-things market, selling wireless chips for smart home devices.
The deal includes Silicon Labs power and isolation, timing and broadcast products, intellectual property and associated employees, the company said in a statement.