Silicon Labs has announced the completion of the sale of its Infrastructure & Automotive business to Skyworks Solutions for US$2.75bn in an all-cash deal.
The closure officially positions Silicon Labs as a wireless connectivity specialist.
“The company’s leading wireless development platform, unmatched product portfolio, award-winning security technology and robust ecosystem enable it to capitalise on the growing, diverse global IoT market,” it said in a statement.
Silicon Labs expects to use most of the net proceeds of approximately $2.3bn after taxes and transaction costs to return approximately $2bn to shareholders through a combination of special dividends and/or share repurchases.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData