Skyworks Solutions has signed a definitive agreement to purchase Avnera, a developer of Analog System on Chips (ASoCs). Skyworks will pay $405 million in cash to Avnera equity holders at closing, with up to an additional $20 million if certain performance targets are exceeded over a 12-month post-closing period. The transaction has been approved by the boards of directors of both Skyworks and Avnera and is anticipated to close by September 2018, subject to customary closing conditions.
Upon closing, Skyworks will expand its addressable market by over $5 billion, said the company in a statement. Target applications include AI speakers/microphones, virtual assistants, intelligent gaming controllers and vehicle in-dash systems as well as wired/wireless headsets.
Avnera customers include Harman, JBL, Panasonic, Philips, Pioneer, Polk, Samsung, Sennheiser, Sony, Vizio and Yamaha, according to a statement from Skyworks.
[Image courtesy: Skyworks]