Skyworks Acquiring Silicon Labs' Infrastructure and Auto Business for $2.75 Billion

Skyworks Acquiring Silicon Labs' Infrastructure and Auto Business for $2.75 Billion
Eric Volkman, The Motley Fool
·2 min read

Skyworks Solutions (NASDAQ: SWKS) is beefing up its business with the addition of assets from Silicon Laboratories (NASDAQ: SLAB). Skyworks said it anticipates funding the buy with the cash on its books, plus committed debt financing that has been arranged by JPMorgan Chase unit J.P. Morgan. Owning the Silicon Labs wing "will broadly expand our capabilities across high-growth end markets including automotive, communications and industrial, creating new and highly compelling opportunities for Skyworks," the company's CEO Liam Griffin was quoted as saying in the official press release trumpeting the acquisition.