Skyworks Solutions has announced the completion of its acquisition of Analog System on Chips (ASoCs) solutions provider, Avnera Corporation. The companies had entered into a definitive buyout agreement on August 3, 2018.
Per the terms of the agreement, Skyworks paid $425 Million in cash for the acquisition, which was approved by the boards of directors of both the companies. Excluding any non-recurring acquisition-related charges and amortization of intangibles, Skyworks expects the acquisition to be immediately accretive to diluted earnings per share.
Since 2004, Avnera has been designing Analog System-on-Chips, integrating breakthrough low-power analog circuits. As pioneers of ASoC technology, the company works closely with its partners to transform markets and over the last decade, has delivered circuit and system innovations that have set a new bar in minimizing power consumption and footprint sizes. The company is also a certified MFi Partner and has developed a complete platform solution for the next generation of iOS accessories based on its LightX ASoC.
