© Skyworks Solutions Business | August 07, 2018
Skyworks to acquire Avnera for $405 million
Analog semiconductor company, Skyworks Solutions, says that it has signed a definitive agreement to purchase Avnera Corporation, a developer of Analog System on Chips (ASoCs).
Acquisition of Avnera, a private fabless semiconductor supplier, augments Skyworks’ position in wireless connectivity by adding ultra-low power analog circuits to enable smart interfaces via acoustic signal processing, sensors and integrated software, a press release reads. Once the transaction is completed, Skyworks will have expanded its addressable market by over USD 5 billion. Target applications include AI speakers/microphones, virtual assistants, intelligent gaming controllers and vehicle in-dash systems as well as wired/wireless headsets. “Voice is increasingly becoming the primary interface for artificial intelligence and Internet of Things applications. Skyworks’ acquisition of Avnera will enable us to capitalize on the rapid proliferation of audio functionality and its convergence with our advanced connectivity solutions,” Liam K. Griffin, president and chief executive officer of Skyworks, says in the press release. “With Skyworks’ global sales channels, strong customer relationships and operational scale, we plan to leverage Avnera’s innovative product portfolio and systems expertise to increase our footprint in automotive, industrial, home automation, enterprise and high-end consumer markets. In short, this transaction perfectly complements Skyworks’ product roadmap and will be highly synergistic across a broader customer set,” Griffin adds. At the heart of Avnera’s system solutions are market-specific ASoCs that combine audio/voice analog circuits, highly efficient power management and custom hardware accelerators for smart acoustic signal processing/AI features. Key Avnera customers include Harman, JBL, Panasonic, Philips, Pioneer, Polk, Samsung, Sennheiser, Sony, Vizio and Yamaha. “We are extremely excited to be joining forces with Skyworks to offer customers complete system solutions for next generation smart interface applications,” says Manpreet Khaira, chairman, president and chief executive officer of Avnera. “Both companies share a vision of enabling ubiquitous, always-on communications through highly customized designs. Together, we can develop, deliver and rapidly scale audio products with unprecedented integration and performance for the increasingly connected wireless world.” Skyworks will pay USD 405 million in cash to Avnera equity holders at closing with up to an additional USD 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.
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