- Silicon Labs for $ 308 million cash acquisition of Redpine Signals of Wi-Fi® and Bluetooth (Bluetooth®) assets and development center in India as well as an extensive patent portfolio
- 2020 fiscal year will increase by about $ 20 million in revenue
- A comparable gross margin (comparable gross margin) and promote things revenues continued to grow
- On non-GAAP (non-GAPP calculation), in 2021 to achieve earnings per share increase in the second half of
China, Beijing --2020 Nian 3 Yue 16 Ri - Silicon Labs (also known as "Silicon Labs", NASDAQ: SLAB) announced that it has entered into a definitive asset purchase agreement with Redpine Signals, for $ 308 million cash acquisition of the company's Wi-Fi and Bluetooth business, located in Hyderabad, India R & D center and extensive patent portfolio.
Tyson Tuttle Silicon Labs CEO, said: "ultra-low and Bluetooth products and extensive intellectual property portfolio power Wi-Fi Redpine Signals acquisition will strengthen our leadership position in the Internet of Things (IoT) wireless technology will be added to these products. our global sales and distribution network, can help customers who want to quickly enter the market through support for Wi-Fi networking equipment to further promote the intelligent home, industrial and things move forward the commercial market. "
Wi-Fi 6 (802.11ax) is an important evolution of Wi-Fi standard, to meet with the required environmental hundreds of networked devices IoT low power consumption, performance, security and interoperability requirements. Integration of Redpine Signals technology will accelerate Silicon Labs' Wi-Fi 6 chips, software and solutions roadmap. The acquisition also includes a wearable device, audible wear equipment, Bluetooth intelligent voice assistant and speakers and other audio applications Classic IP (including extended data rate).
The acquisition of Redpine Signals include Hyderabad design center of mass of about 200 employees in India. With Redpine multidisciplinary, high-performance team to join, we will help Silicon Labs one of the richest areas of the Indian people more quickly and efficiently expand the scale of R & D in this.
Redpine Signals founder and CEO Venkat Mattela said:. "My team is very pleased to join Silicon Labs, to help build a smarter, more interconnected world, with the support of OFDM and MIMO systems two decades of advanced research , Redpine Signals to create a highly differentiated, low-power multi-protocol SoC. Looking to the future, low-power Wi-Fi 6 will be the key technology for wireless IoT devices connected. "
Silicon Labs expects that the transaction will increase the company's 2020 fiscal year of approximately $ 20 million in revenue, gross margin and comparable to promote things revenues continued to grow, at the same time as non-GAAP, will be realized in the second half of 2021 increase in earnings per share. The deal will add about $ 15 million of non-generally accepted accounting principles operating costs each year.
The board of directors of both companies and shareholders Redpine Signals have approved the transaction, according to customary closing conditions, the transaction is expected to be completed in the second quarter 2020. JP Morgan Securities Co., Ltd. (JP Morgan Securities LLC) acted as the exclusive financial advisor of Redpine Signals.
telephone conference
Silicon Labs Analyst Day on Central Time at 9:00 on March 12 to 13:00, held responded to questions related to the acquisition of Redpine Signals connection utility sectors. The activities and related presentations through the Investor Relations page of the company website silabs.com/investor webcast, playback can be viewed in three months.
About Silicon Labs
Silicon Labs (NASDAQ: SLAB), a leading silicon, software and solutions provider, committed to building a smarter, more connected world. Our award-winning technology is shaping things, the future of the Internet infrastructure, industrial automation, consumer electronics and automotive markets. Our world-class engineering team to create products focused on performance, energy, Internet and simplification. For more information, please visit the website: www.silabs.com .
About Redpine Signals
Redpine Signals Inc. is a global semiconductor and system solutions company, founded in 2001, is headquartered in San Jose, California. The company focused on ultra-low-power and high-performance wireless innovation and the development of MCU products to support next-generation networking, wearable, home automation, medical, industrial and automotive applications.
