Conexant Acquired By Synaptics For $346.7M

Irvine-based Conexant Systems, which develops semiconductors for the audio and voice market, has been acquired by Synaptics, in a deal worth approximately $346.7M in cash. Synaptics and Conexant said Monday afternoon that Synaptics will pay $300M in cash plus 726,666 shares of Synaptics common stock. The deal is expected to close in the third quarter of 2017. Conexant said it was advised by Cowen and Company, LLC and O'Melveny & Myers LLP in the deal. Conexant makes a wide range of semiconductors, ranging from analog-to-digital converters (ADCs) and CODECs to embedded modem, DSP, and other related products.