Silicon Labs Completes the Divestiture of Its Infrastructure and Automotive Business
Silicon Labs | July 30, 2021
Silicon Labs announced today that it has completed the all-cash asset divestiture of its Infrastructure & Automotive business to Skyworks Solutions for $2.75 billion.
"I thank both companies' dedicated employees for completing a transformative transaction," Silicon Labs CEO Tyson Tuttle stated. "You have not only been a cornerstone of Silicon Labs' success but also a personal source of pride for my former infrastructure and automotive colleagues. At Skyworks Solutions, we wish you continued success."
The acquisition establishes Silicon Labs as a pure-play leader in secure, intelligent wireless connectivity. The company's leading wireless development platform, unrivaled product portfolio, award-winning security technology, and strong ecosystem allow it to capitalize on the global IoT market's growing diversity.
Silicon Labs intends to distribute about $2.0 billion to shareholders through a combination of special dividends and share repurchases from the net proceeds of roughly $2.3 billion after taxes and transaction costs.
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Silicon Labs is a leader in developing secure, intelligent wireless technologies for a more connected world. Our integrated hardware and software platform, user-friendly development tools, unmatched ecosystem, and strong support make us the perfect long-term partner for developing advanced industrial, commercial, home, and life applications. We make it simple for developers to solve difficult wireless challenges across the product lifecycle and bring new solutions to market quickly, changing industries, emerging economies, and improving people's lives.