Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high performance analog semiconductors connecting people, places and things, has announced it signed a definitive agreement to purchase Avnera Corporation, a developer of Analog System on Chips (ASoCs), the company said.
Acquisition of Avnera, a private fabless semiconductor supplier, augments Skyworks´ leadership in wireless connectivity by adding ultra-low power analog circuits to enable smart interfaces via acoustic signal processing, sensors and integrated software. Upon consummation of the transaction, Skyworks will expand its addressable market by over USD 5 billion. Target applications include AI speakers/microphones, virtual assistants, intelligent gaming controllers and vehicle in-dash systems as well as wired/wireless headsets.
Skyworks will pay USD 405 million in cash to Avnera equity holders at closing with up to an additional USD 20 million if certain performance targets are exceeded over a 12-month post-closing period. The transaction has been approved by the boards of directors of both Skyworks and Avnera and is anticipated to close by September 2018, subject to customary closing conditions. Excluding any non-recurring acquisition-related charges and amortization of intangibles, Skyworks expects the acquisition to be immediately accretive to diluted earnings per share.
Skyworks is a global company with engineering, marketing, operations, sales and support facilities located throughout Asia, Europe and North America. For more information, visit Skyworks´ website at: www.skyworksinc.com.
Since 2004, Avnera has been designing Analog System-on-Chips, integrating breakthrough low-power analog circuits. As pioneers of Analog System-on-Chip (ASoC) technology, Avnera works closely with its partners to transform markets. Over the last decade, Avnera has delivered circuit and system innovations that have set a new bar in minimizing power consumption and footprint sizes. The world´s most respected brands trust Avnera to deliver disruptive features for their most innovative products.