Synaptics’ Acquisition of Rights to Broadcom’s Wireless IoT Connectivity Business – Global Legal Chronicle
Synaptics Incorporated completed the acquisition of 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.