Transformation to Pure-Play Leader of Secure, Intelligent Wireless Connectivity for the IoT Now Complete


Silicon Labs
(NASDAQ: SLAB) announced today the completion of the divestiture of its Infrastructure & Automotive business to Skyworks Solutions (NASDAQ: SWKS) for $2.75 billion in an all-cash asset transaction.

'I thank the dedicated team at both companies for executing a transformative transaction,' said Silicon Labs CEO Tyson Tuttle. 'To my former infrastructure and automotive colleagues, you have not only been a cornerstone of Silicon Labs' success but also a personal source of pride. We wish you continued successes at Skyworks Solutions.'

The closure officially positions Silicon Labs as a pure-play leader of secure, intelligent wireless connectivity. The company's leading wireless development platform, unmatched product portfolio, award-winning security technology and robust ecosystem enable it to capitalize on the growing, diverse global IoT market.
Silicon Labs expects to utilize a significant portion of the net proceeds of approximately $2.3 billion after taxes and transaction costs to return approximately $2.0 billion to shareholders through a combination of special dividends and/or share repurchases.

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Edom Technology Co. Ltd. published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 08:26:09 UTC.