Skyworks to Purchase the Infrastructure & Automotive Small business of Silicon Labs

IRVINE, Calif. & AUSTIN, Texas–(Business WIRE)–Skyworks Alternatives, Inc. (Nasdaq: SWKS), an innovator of large-performance analog semiconductors connecting folks, places and matters, these days announced that it has entered into a definitive settlement with Silicon Laboratories Inc. (Nasdaq: SLAB), a top provider of silicon, program and options for a smarter, extra linked planet, below which Skyworks will get the Infrastructure & Automotive company of Silicon Labs in an all-cash asset transaction valued at $2.75 billion.

Around the previous two a long time, Silicon Labs has produced the Infrastructure & Automotive business into a chief in each and every of its goal markets, providing greatest-in-course alternatives to a highly diversified consumer base. The acquisition encompasses the engineering portfolios and similar property of Silicon Labs’ power/isolation, timing and broadcast solution traces, which are really complementary to Skyworks’ connectivity portfolio.

The acquisition will speed up Skyworks’ growth into the industry’s most significant advancement segments, such as electric and hybrid vehicles, industrial and motor control, electricity provide, 5G wireless infrastructure, optical knowledge communication, data middle, automotive, wise home and various other apps. Skyworks will be uniquely positioned to address a mixed market place option approaching $20 billion each year.

Mark Thompson, senior vice president of Silicon Labs and basic supervisor of the Infrastructure & Automotive business, will be part of Skyworks as section of the transaction, reporting instantly to Liam K. Griffin, president and chief government officer of Skyworks. In addition, close to 350 staff members, like the senior administration workforce of the organization, are expected to join Skyworks upon completion of the transaction.

“We are pleased to welcome the Infrastructure & Automotive group to Skyworks when this transaction is accomplished,” stated Mr. Griffin. “This acquisition will broadly expand our abilities throughout large-development conclude marketplaces which include automotive, communications and industrial, creating new and really persuasive options for Skyworks. By leveraging our worldwide revenue channels, operational scale and deep purchaser interactions, Skyworks is properly positioned to travel higher than-market place progress, whilst diversifying revenues, increasing margins and providing sturdy returns in earnings and dollars technology.”

“With our companies’ shared cultures of design and style excellence and consumer collaboration, I am self-confident that the Infrastructure & Automotive group will keep on their a long time-extended background of delivering sector-main innovations,” reported Silicon Labs CEO Tyson Tuttle. “Silicon Labs and Skyworks will partner to guarantee a seamless changeover for shoppers, suppliers and personnel.”

Skyworks expects the transaction to be immediately accretive and to speed up the route to Skyworks achieving its focus on financial product. The transaction, which is envisioned to close all through the 3rd calendar quarter of 2021, has been accredited by the boards of directors of each firms and is matter to customary closing conditions, together with regulatory approvals.

Skyworks expects to fund the transaction with a mixture of cash on hand and committed debt financing arranged by J.P. Morgan.

Meeting Simply call and Webcast

Skyworks will host a conference simply call with analysts now at 5 p.m. EDT. To listen to the meeting phone through the World wide web, please check out the trader relations portion of Skyworks’ web page. To listen to the meeting call by using telephone, make sure you phone (844) 583-4549 (domestic) or (825) 312-2257 (intercontinental), Meeting ID: 8392854.

Playback of the meeting phone will start out at 9 p.m. EDT on Apr. 22, 2021, and close at 9 p.m. EDT on Apr. 28, 2021. The replay will be obtainable on Skyworks’ site or by calling (800) 585-8367 (domestic) or (416) 621-4642 (international), Conference ID: 8392854.

About Skyworks

Skyworks Alternatives, Inc. is empowering the wireless networking revolution. Our very modern analog semiconductors are connecting people today, destinations and points spanning a range of new and formerly unimagined applications in just the aerospace, automotive, broadband, cellular infrastructure, connected property, industrial, medical, armed forces, smartphone, pill and wearable marketplaces.

Skyworks is a global company with engineering, advertising, functions, product sales and aid facilities positioned throughout Asia, Europe and North America and is a member of the S&P 500^® and Nasdaq-100^® current market indices (Nasdaq: SWKS). For additional details, remember to visit Skyworks’ site at: www.skyworksinc.com.

About Silicon Labs

Silicon Labs is a main service provider of silicon, computer software and answers for a smarter, additional related entire world. Our award-successful technologies are shaping the long run of the Internet of Matters, World wide web infrastructure, industrial automation, shopper and automotive markets. Our earth-course engineering crew produces products and solutions targeted on overall performance, power personal savings, connectivity and simplicity. silabs.com

Protected Harbor Statement

Any forward-searching statements contained in this press release are supposed to qualify for the protected harbor from legal responsibility proven by the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements include, devoid of limitation, information and facts relating to the transaction concerning Skyworks and Silicon Labs, the predicted timetable for completing the transaction, foreseeable future economical and functioning outcomes, the advantages, synergies and accretion similar to the transaction and any other statements by the administration of Skyworks or Silicon Labs pertaining to potential expectations, beliefs, targets, options or prospective customers. Ahead-searching statements can usually be recognized by terms these kinds of as “anticipates,” “expects,” “forecasts,” “intends,” “believes,” “plans,” “may,” “will” or “continue,” and related expressions and variants or negatives of these words. True activities and/or success may possibly differ materially and adversely from such ahead-wanting statements as a result of specific challenges and uncertainties which includes, but not minimal to, the occurrence of any function, modify or other conditions that could give increase to the termination of the obtain agreement the result of any lawful proceedings that could be instituted towards Skyworks or Silicon Labs, or their respective boards of administrators, linked to the order agreement the means to fulfill the closing conditions of the transaction when expected or at all, together with the receipt of all regulatory approvals relevant to the transaction, and the skill to near the transaction the ability of Skyworks to get hold of the essential financing arrangements established forth in the credit card debt dedication letter sent pursuant to the purchase settlement the capability of Skyworks to effectively combine the property obtained and staff transferred pursuant to the acquire agreement the hazard that Skyworks may not notice the expected benefits from the transactions contemplated by the purchase arrangement the availability and pricing of 3rd-get together semiconductor foundry, assembly and test capability, uncooked products and provider parts the cyclical nature of the semiconductor marketplace threats that the proposed transaction disrupts current programs and operations and the potential complications in personnel retention as a end result of the transaction Skyworks’ means to acquire design wins from prospects technological and product or service progress pitfalls enforcement and security of mental house rights and relevant dangers pitfalls associated to the safety of our information devices and secured networks improvements in legal guidelines, laws and/or procedures that could adversely impact Skyworks’ or Silicon Labs’ operations and monetary benefits, the economic climate, purchaser demand from customers for items, the economical markets or the results of trade fee fluctuations threats of modifications in U.S. or intercontinental tax rates or laws the results of the world wide COVID-19 pandemic the outcomes of regional and countrywide financial, credit and capital sector ailments on the financial system in basic and other hazards and uncertainties explained herein, as very well as individuals pitfalls and uncertainties mentioned from time to time in our other reviews and other public filings with the Securities and Trade Commission (“SEC”), together with, but not restricted to, those thorough in Skyworks’ Once-a-year Report on Variety 10-K for the yr ended October 2, 2020 (and/or its most current Quarterly Report on Variety 10-Q), submitted with the SEC and in Silicon Labs’ Yearly Report on Type 10-K for the year finished January 2, 2021 (and/or its most the latest Quarterly Report on Sort 10-Q), submitted with the SEC. Any forward-looking statements contained in this push release are manufactured only as of the date hereof and should not be relied on as representing our views as of any subsequent date, and we undertake no obligation to update or revise the ahead-on the lookout statements, irrespective of whether as a consequence of new details, foreseeable future gatherings or in any other case.

Note to Editors: Skyworks and the Skyworks image are emblems or registered trademarks of Skyworks Methods, Inc., or its subsidiaries in the United States and other international locations. Silicon Laboratories, Silicon Labs, the “S” image, the Silicon Laboratories logo and the Silicon Labs logo are trademarks of Silicon Laboratories Inc.