Synaptics completes $549M acquisition of DSP Group; updates Q2 FY2022 guidance

SYNAPTICS Inc

Acquisition of DSP Group closed for $549M cash; financed with $600M new 7-year term loan at LIBOR+2.25%.
Updated Q2 FY2022 revenue guidance: $410M-$430M (prior $390M-$420M).
Non-GAAP EPS guidance raised to $3.00-$3.20 (prior $2.90-$3.20); 41M fully diluted shares.
Non-GAAP gross margin maintained at 58.5%-59.5%; non-GAAP OpEx increased to $96M-$98M.
Deal expected to be immediately accretive to non-GAAP EPS; adds voice processing and wireless capabilities.

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