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Synaptics Acquires Broadcom’s Wireless IoT Business, Accelerates IoT Growth Opportunity

July 24, 2020 / Jason Tsai
SHARESHARESHARE

Synaptics Incorporated today announced that it has completed the acquisition of assets and manufacturing rights associated with the wireless IoT business of Broadcom. These best-in-class Wi-Fi, Bluetooth, and GNSS/GPS technologies expand Synaptics’ footprint across a broad range of applications including home automation, smart displays and speakers, media streamers, IP cameras, and automotive. “This transaction accelerates our broader strategy of shifting toward our IoT business and allows for the opportunity to redeploy our capital to drive top-line growth while increasing profitability with higher gross and operating margins,” said Michael Hurlston, president and CEO at Synaptics. “Acquiring this technology, coupled with the recently announced deal with DisplayLink, gives us greater depth in our product portfolio and positions us to offer more to our existing customer base.”