Skyworks To Acquire Avnera

Skyworks Solutions Inc. (SWKS) said it agreed to purchase Avnera Corp., a developer of Analog System on Chips. Skyworks will pay $405 million in cash to Avnera equity holders at closing with up to an additional $20 million if certain performance targets are exceeded over a 12-month post-closing period.

The transaction has been approved by the boards of directors of both Skyworks and Avnera and is anticipated to close by September 2018, subject to customary closing conditions. Excluding any non-recurring acquisition-related charges and amortization of intangibles, Skyworks expects the acquisition to be immediately accretive to diluted earnings per share.

by RTTNews Staff Writer

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