Synaptics Closes Transaction to Divest Mobile LCD TDDI Business
Synaptics Incorporated (SYNA)
Last synaptics incorporated earnings: 2/6 04:05 pm
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US:NASDAQ Investor Relations:
investor.synaptics.com/node/5806
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Source: GlobeNewswire
SAN JOSE, Calif., April 16, 2020 (GLOBE NEWSWIRE) -- Synaptics Incorporated (NASDAQ: SYNA), the leading developer of human interface solutions, has successfully closed the previously announced transaction to divest its Asia-based, mobile LCD TDDI business to an affiliate of Hua Capital for $120 million in cash. In addition to the purchase price, Synaptics expects to receive a cash payment for the on-hand specified business inventory, which is currently estimated to be valued at approximately $19.4 million. Further details will be discussed during the Company’s next earnings call on May 7, 2020 at 2 P.M. Pacific. Synaptics will continue to invest in technologies for the premium segments of the mobile market, including OLED, where our advanced touch controllers and display driver ICs deliver best-in-class performance. In addition, the company will continue to develop advanced TDDI solutions for automotive touchscreens. About Synaptics: Synaptics is the pioneer and leader of the hum
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