IRVINE, Calif. & AUSTIN, Texas–(Enterprise WIRE)–Skyworks Methods, Inc. (Nasdaq: SWKS), an innovator of significant-overall performance analog semiconductors connecting folks, spots and issues, these days announced that it has entered into a definitive arrangement with Silicon Laboratories Inc. (Nasdaq: SLAB), a foremost supplier of silicon, program and remedies for a smarter, a lot more connected globe, beneath which Skyworks will purchase the Infrastructure & Automotive enterprise of Silicon Labs in an all-money asset transaction valued at $2.75 billion.
More than the earlier two a long time, Silicon Labs has developed the Infrastructure & Automotive business into a leader in just about every of its focus on markets, supplying greatest-in-course methods to a highly diversified purchaser base. The acquisition encompasses the engineering portfolios and associated assets of Silicon Labs’ energy/isolation, timing and broadcast product traces, which are extremely complementary to Skyworks’ connectivity portfolio.
The acquisition will speed up Skyworks’ growth into the industry’s most crucial expansion segments, together with electric powered and hybrid automobiles, industrial and motor handle, electricity offer, 5G wireless infrastructure, optical info interaction, details center, automotive, sensible residence and numerous other apps. Skyworks will be uniquely positioned to address a combined current market option approaching $20 billion every year.
Mark Thompson, senior vice president of Silicon Labs and typical manager of the Infrastructure & Automotive business enterprise, will be part of Skyworks as portion of the transaction, reporting right to Liam K. Griffin, president and chief government officer of Skyworks. In addition, around 350 staff, together with the senior administration team of the organization, are envisioned to be part of Skyworks on completion of the transaction.
“We are delighted to welcome the Infrastructure & Automotive workforce to Skyworks when this transaction is done,” stated Mr. Griffin. “This acquisition will broadly extend our abilities throughout high-expansion stop markets such as automotive, communications and industrial, producing new and hugely persuasive opportunities for Skyworks. By leveraging our world wide sales channels, operational scale and deep shopper associations, Skyworks is nicely positioned to drive higher than-sector expansion, while diversifying revenues, increasing margins and delivering solid returns in earnings and dollars generation.”
“With our companies’ shared cultures of layout excellence and buyer collaboration, I am self-assured that the Infrastructure & Automotive workforce will carry on their a long time-extensive heritage of offering marketplace-main improvements,” claimed Silicon Labs CEO Tyson Tuttle. “Silicon Labs and Skyworks will lover to ensure a seamless transition for shoppers, suppliers and workers.”
Skyworks expects the transaction to be promptly accretive and to accelerate the route to Skyworks obtaining its goal monetary design. The transaction, which is predicted to close for the duration of the 3rd calendar quarter of 2021, has been accepted by the boards of administrators of equally corporations and is subject to customary closing disorders, which includes regulatory approvals.
Skyworks expects to fund the transaction with a combination of hard cash on hand and committed credit card debt funding organized by J.P. Morgan.
Meeting Call and Webcast
Skyworks will host a meeting get in touch with with analysts nowadays at 5 p.m. EDT. To listen to the convention simply call by using the Internet, please go to the trader relations area of Skyworks’ web page. To pay attention to the convention simply call by using telephone, remember to phone (844) 583-4549 (domestic) or (825) 312-2257 (worldwide), Conference ID: 8392854.
Playback of the meeting connect with will begin at 9 p.m. EDT on Apr. 22, 2021, and close at 9 p.m. EDT on Apr. 28, 2021. The replay will be available on Skyworks’ web site or by calling (800) 585-8367 (domestic) or (416) 621-4642 (global), Meeting ID: 8392854.
About Skyworks
Skyworks Options, Inc. is empowering the wi-fi networking revolution. Our remarkably impressive analog semiconductors are connecting men and women, locations and matters spanning a range of new and previously unimagined apps in just the aerospace, automotive, broadband, mobile infrastructure, connected home, industrial, professional medical, military services, smartphone, pill and wearable markets.
Skyworks is a world-wide firm with engineering, advertising, operations, gross sales and aid amenities located all over Asia, Europe and North America and is a member of the S&P 500® and Nasdaq-100® market indices (Nasdaq: SWKS). For a lot more facts, be sure to pay a visit to Skyworks’ website at: www.skyworksinc.com.
About Silicon Labs
Silicon Labs is a top company of silicon, program and options for a smarter, far more connected earth. Our award-profitable systems are shaping the foreseeable future of the World-wide-web of Factors, Web infrastructure, industrial automation, customer and automotive markets. Our entire world-class engineering workforce makes merchandise concentrated on efficiency, power price savings, connectivity and simplicity. silabs.com
Protected Harbor Assertion
Any ahead-searching statements contained in this push release are intended to qualify for the safe and sound harbor from liability founded by the Non-public Securities Litigation Reform Act of 1995. These ahead-on the lookout statements consist of, without the need of limitation, information with regards to the transaction concerning Skyworks and Silicon Labs, the expected timetable for finishing the transaction, future economical and running results, the advantages, synergies and accretion associated to the transaction and any other statements by the management of Skyworks or Silicon Labs regarding long term anticipations, beliefs, aims, strategies or prospective clients. Ahead-seeking statements can normally be recognized by phrases this sort of as “anticipates,” “expects,” “forecasts,” “intends,” “believes,” “plans,” “may,” “will” or “continue,” and identical expressions and variants or negatives of these text. Genuine functions and/or benefits could differ materially and adversely from this kind of ahead-seeking statements as a consequence of certain threats and uncertainties like, but not restricted to, the prevalence of any function, change or other situation that could give rise to the termination of the obtain agreement the consequence of any authorized proceedings that could be instituted versus Skyworks or Silicon Labs, or their respective boards of directors, linked to the invest in agreement the skill to satisfy the closing circumstances of the transaction when predicted or at all, including the receipt of all regulatory approvals related to the transaction, and the capability to shut the transaction the potential of Skyworks to acquire the necessary funding preparations set forth in the personal debt determination letter sent pursuant to the purchase agreement the skill of Skyworks to productively combine the belongings obtained and workforce transferred pursuant to the order arrangement the risk that Skyworks could not realize the anticipated added benefits from the transactions contemplated by the obtain arrangement the availability and pricing of 3rd-social gathering semiconductor foundry, assembly and test ability, raw components and supplier components the cyclical nature of the semiconductor field dangers that the proposed transaction disrupts recent ideas and operations and the probable challenges in personnel retention as a outcome of the transaction Skyworks’ skill to get hold of design and style wins from customers technological and merchandise growth dangers enforcement and protection of mental property legal rights and linked dangers dangers connected to the protection of our information and facts programs and secured networks improvements in legislation, polices and/or guidelines that could adversely have an affect on Skyworks’ or Silicon Labs’ operations and fiscal outcomes, the economy, customer desire for merchandise, the monetary marketplaces or the results of exchange charge fluctuations pitfalls of improvements in U.S. or international tax costs or laws the effects of the global COVID-19 pandemic the consequences of community and national financial, credit rating and funds market disorders on the overall economy in normal and other threats and uncertainties described herein, as properly as people pitfalls and uncertainties reviewed from time to time in our other experiences and other community filings with the Securities and Exchange Fee (“SEC”), which includes, but not restricted to, all those in depth in Skyworks’ Yearly Report on Kind 10-K for the calendar year finished October 2, 2020 (and/or its most latest Quarterly Report on Variety 10-Q), filed with the SEC and in Silicon Labs’ Yearly Report on Kind 10-K for the 12 months ended January 2, 2021 (and/or its most new Quarterly Report on Type 10-Q), submitted with the SEC. Any forward-on the lookout statements contained in this press release are produced only as of the day hereof and need to not be relied on as representing our views as of any subsequent day, and we undertake no obligation to update or revise the forward-searching statements, whether as a consequence of new information, foreseeable future occasions or in any other case.
Note to Editors: Skyworks and the Skyworks image are emblems or registered trademarks of Skyworks Remedies, Inc., or its subsidiaries in the United States and other countries. Silicon Laboratories, Silicon Labs, the “S” image, the Silicon Laboratories symbol and the Silicon Labs logo are trademarks of Silicon Laboratories Inc.
