Silicon Labs Completes Divestiture of Infrastructure & Automotive Business
July 26, 2021
Silicon Labs announced the completion of the divestiture of its Infrastructure & Automotive business to Skyworks Solutions 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 wireless development platform, product portfolio, security technology, and robust ecosystem enable it to capitalize on the global IoT market.
Silicon Labs expects to utilize a 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.
For more information, visit: news.silabs.com