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Synaptics Closes Transaction to Divest Mobile LCD TDDI BusinessSAN JOSE, Calif., April 16, 2020 (GLOBE NEWSWIRE) -- Synaptics Incorporated (NASDAQ: SYNA), the leading developer of human interface solutions, has successfully closed the previously announced transaction to divest its Asia-based, mobile LCD TDDI business to an affiliate of Hua Capital for $120 million in cash. In addition to the purchase price, Synaptics expects to receive a cash payment for the on-hand specified business inventory, which is currently estimated to be valued at approximately $19.4 million. Further details will be discussed during the Company’s next earnings call on May 7, 2020 at 2 P.M. Pacific. Synaptics will continue to invest in technologies for the premium segments of the mobile market, including OLED, where our advanced touch controllers and display driver ICs deliver best-in-class performance. In addition, the company will continue to develop advanced TDDI solutions for automotive touchscreens. About Synaptics: Join Synaptics on Twitter, LinkedIn, and Facebook, or visit www.synaptics.com. Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are the property of their respective owners. For further information, please contact: Public Relations: |