Synaptics to acquire DSP Group for $22.00/share in all-cash deal; expands IoT and AI portfolio

SYNAPTICS Inc

Synaptics acquires DSP Group at $22.00/share in all-cash transaction; boards of both companies approved.
Expected close by end of calendar 2021 (Q2 fiscal 2022) subject to DSPG shareholder approval and conditions.
Annual run-rate synergies of $30M within 12 months; immediately accretive to non-GAAP EPS.
Adds DECT ULE wireless and SmartVoice to Katana vision platform; targets low power edge AI growth.
Financed through cash on hand and a fully committed incremental debt facility from Barclays.

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