Synaptics Acquires Conexant
Synaptics, a developer oif human-machine interfaces, has agreed to acquire Conexant Systems and its portfolio of silicon and software solutions for audio, voice and imaging applications for $300 million in cash plus stocks.
Conexant holds more than 480 current or pending patents and its products have shipped in more than 27 million products across 60 categories, including home appliances, home audio/video applications, home networking devices, lighting, security devices, set-top-boxes, smart thermostats, robots, and toys. In addition to its voice solutions, Conexant is helping the $13 billion headphone industry go digital with its USB-C CODEC solutions.
"I would like to thank each and every employee for their dedication and hard work over the past four years as we turned Conexant into a leader in audio and imaging. We are witnessing a positive inflection point in the business, with voice becoming the human interface to machines and with the move to next-generation USB-C headphones," said Cynthia Paul, chairman of the board at Conexant, in a statement. "I am excited about the next chapter in Conexant's life as Synaptics helps scale the business."
"We have spent the past few years sharpening Conexant's focus on providing silicon and software solutions for voice-enabled devices, consumer and commercial imaging, and next-generation audio applications," said Jan Johannessen, CEO of Conexant, in a statement. "We believe that by joining Synaptics, we will further scale in the USB-C headphone market, while also enabling device makers to develop innovative applications for some of the industry's most advanced human-machine-interface technologies, including voice."
Synaptics also acquired the Multimedia Solutions Business of Marvell Technology Group, a provider of advanced processing technology for video and audio applications for the smart home, for $95 million.
Marvell's multimedia product family combines video and audio processing solutions deployed in set-top boxes, over-the-top (OTT) streaming media devices that deliver content over the internet, virtual/augmented reality platforms, and digital personal assistants, such as smart speakers.
"We're really excited to join Synaptics and help innovate for the fast-growing consumer IoT market where we can leverage our advanced technologies, broad ecosystem partners, and top-tier customer base," said Gaurav Shah, vice president of marketing and strategy for the Multimedia Solutions Business of Marvell Technology Group, in a statement. "Together our complementary technologies and talented global teams are capable of delivering solutions that drive a new generation of smart home products."
"At Synaptics, we have a knack for bringing the right technologies to the right growth markets. Adding voice and audio processing solutions to our portfolio blends perfectly into the company's innovative technology product mix," said Rick Bergman, president and CEO of Synaptics, in a statement. "The acquisition broadens Synaptics' portfolio of human interface solutions and rapidly accelerates the execution of our IoT strategy, driving our next major phase of growth. Conexant adds an established and highly profitable revenue base, a diverse set of customers, new tier-one accounts, impressive global talent, and a deep portfolio of intellectual property."
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