Austin-based Silicon Labs has sold its infrastructure and automotive business for $2.75 billion to California-based semiconductor maker Skyworks Solutions. Plans for the all-cash deal was initially announced in April.
Silicon Labs primarily designs semiconductors and other silicon devices. CEO Tyson Tuttle said the deal will allow the company to focus on its growing Internet of Things business. Internet of Things, or IoT as it is known in industry shorthand, refers to a range of non-computing devices —from kitchen devices to security systems — that connect to the Internet.
Silcon Labs’ IoT business already serves tens of thousands of customers and works in thousands of applications, but the deal narrows Silicon Labs focus exclusively to that technology.
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