Smart City

Smart City Sentinel

Synaptics Set to Acquire Rights to Broadcom's Wireless IoT

By Ken Briodagh

Synaptics recently announced that it has signed definitive agreements to acquire certain assets and manufacturing rights associated with the wireless IoT business of Broadcom for about $250 million in an all-cash transaction. Under the reported 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, and future roadmap devices designed in advanced process nodes.

Synaptics expects the transaction to add about $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, according to the release. Synaptics said it expects to finance the transaction from its existing on-hand cash balance and is not subject to any financing conditions.


Ken Briodagh is a storyteller, writer and editor with about two decades of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh

Editorial Director

SHARE THIS ARTICLE
Related Articles

KORE Webinar to De-Mystify eSIM for IoT

By: Ken Briodagh    8/12/2020

It is critical for any size of business in any market, in any corner of the IoT to learn the ins and outs of the eSIM strategy for fixing many of the …

Read More

The Gotchas: IoT Liabilities

By: Gary Audin    8/12/2020

Who is responsible if there is an error, illness, injury, or financial loss when an IoT problem arises? Who do you sue? Are there regulations that cov…

Read More

CalAmp Renews Contract with Caterpillar for 4G LTE Telematics

By: Ken Briodagh    8/10/2020

CalAmp is extending its relationship with Caterpillar to facilitate the company's expansion of connected assets, including the migration of several ex…

Read More

Getting Patients More Involved with IoT-based Solutions

By: Special Guest    8/10/2020

Advances in IoT technology have led to remote patient monitoring solutions that can help healthcare providers monitor patients while they remain home,…

Read More

South Korea to Use AI & 5G to Boost Economy from COVID-19, Says GlobalData

By: Ken Briodagh    8/7/2020

South Korea's recent "New Deal" aims to leverage technologies like 5G and AI to support economic recovery post-COVID-19, said GlobalData, a data and a…

Read More