Synaptics, a company that specialises in human interface solutions has announced that they will be acquiring the rights to the wireless IoT business of Broadcom, which includes their Wi-Fi, Bluetooth and GPS/GNSS products and businesses in the IoT market, in a $250 million agreement.
With the acquisition, Synaptics has an immediate footprint in the wireless IoT connectivity market, and they gain strong tie-ups with tier-one OEMs and broad base customers. Synaptics’ existing portfolio in the IoT space include Edge computing SoCs, high-speed video interfaces, digital audio processing and more. These can integrated into products like smart assistants, home automation, printers, automotives, etc.
Commenting on the acquisition, Michael Hurlston, president and CEO, Synaptics said:
Expanding our offering in the high growth IoT market has been one of the major focus areas for Synaptics and the addition of best-in-class wireless connectivity technology to our portfolio significantly enhances our overall position. This acquisition complements Synaptics’ ability to sell into a broad range of devices such as IP cameras, smart displays, speakers, home automation, and gaming consoles – all of which require cutting-edge technologies including Wi-Fi 6 and 6E, Bluetooth 5.2 and GPS L5