Synaptics Completes Conexant Systems Acquisition

Synaptics has completed its acquisition of software and fabless semiconductor maker Conexant Systems.

Synaptics Completes Conexant Systems AcquisitionThe deal was first announced last month along with another acquisition, Synaptics’ purchase of Marvell Technology Group’s Multimedia Solutions Business. Both acquisitions are aimed at extending Synaptics’ reach in the smart home and Internet of Things markets, with Conexant offering applicable audio and video processing technologies.

In a statement announcing the completion of the Conexant deal, Synaptics CEO Rick Bergman said, “We are very excited to have quickly closed on this important acquisition and be able to immediately leverage the added voice and audio solutions to pursue the growing opportunities in consumer IoT.”

When Synaptics first announced the Conexant acquisition, the company indicated that it was spending about $300 million, and 726,666 common stock shares, on the deal. Synaptics says it will provide further details on the acquisition when it releases its quarterly update on August 3rd.