Knowles signs definitive agreement to sell Consumer MEMS Microphones to Syntiant for $150M

Knowles Corp

Total consideration $150M ($70M cash + $80M Syntiant preferred stock); closing expected Q4 2024.
Knowles to focus on Precision Devices and MedTech & Specialty Audio segments, serving aerospace, defense, medtech, industrial markets.
Pro forma 2023 revenue of remaining businesses: $560M. Q3 2024 guidance: rev $139-143M, non-GAAP EPS $0.24-0.28.
Intends to use net cash proceeds for debt paydown and stock repurchase.
Transaction subject to regulatory approvals, third-party consents, and other customary closing conditions.

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