TMCnet News

Synaptics Acquires Renesas SP Drivers [Professional Services Close - Up]
[June 13, 2014]

Synaptics Acquires Renesas SP Drivers [Professional Services Close - Up]


(Professional Services Close - Up Via Acquire Media NewsEdge) Synaptics has signed a definitive agreement to acquire all of the outstanding equity of Renesas SP Drivers.

According to a release from the Company, with the acquisition, Synaptics expects to increase its addressable market opportunity by 1.5X and to accelerate its product roadmap for touch-and-display driver integration (TDDI). The combination enables platform-level solutions for select segments of the mobile market, while also extending its leadership position in Touch and DDIC product families.



"The acquisition of Renesas SP Drivers unites complementary and best-in-class technologies and brings on board a very experienced, highly skilled engineering team, strengthening Synaptics' position as the number one touchscreen controller supplier to the mobile display market, with unmatched platform level technologies," said Rick Bergman, President and CEO, Synaptics. "Upon closing the acquisition, we will have the scale to accelerate our technology roadmap and expand our broad portfolio of human interface product families including display integration solutions." "We are very excited about joining Synaptics. The combination of Synaptics and Renesas SP Drivers forms an even stronger market leader with a highly complementary combination of products and technologies," said Ikuo Kudo, President and CEO, Renesas SP Drivers. "The well-matched technologies and enhanced scale will drive further innovations in mobile display." Synaptics will pay a purchase price of approximately JPY48.5B ($475 million) for 100 percent of Renesas SP Drivers, based on JPY52.5B ($515 million) enterprise value. The purchase price is based on cash and other adjustments and is subject to customary adjustments for net working capital, net debt, and third party expenses. The US dollar consideration is based on a yen conversion rate of 102.

Renesas SP Drivers is a company focusing on small and medium- sized display driver ICs (DDICs) for smartphones and tablets More information and complete details: www.synaptics.com ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved.

[ Back To TMCnet.com's Homepage ]