Silicon Labs Announces Completion of Sale of Infrastructure and Automotive Businesses

Beijing, China – July 28, 2021 – Silicon Labs (also known as Silicon Labs, NASDAQ: SLAB) officially announced this week that the company has completed a $2.75 billion all-cash transaction for its Infrastructure and Automotive (I&A) Business sale to Skyworks Solutions (NASDAQ: SWKS).

“I am grateful to the dedicated teams at both companies for executing this transformative transaction,” said Silicon Labs CEO Tyson Tuttle. “At the same time, I am deeply proud of my former colleagues in the Infrastructure and Automotive business units, for which I am personally grateful for helping Silicon Labs succeed. We wish you continued success at Skyworks Solutions.”

The formal closing of the sale represents Silicon Labs becoming a leader in secure, intelligent wireless connectivity. The company’s leading wireless development platform, unparalleled product portfolio, award-winning security technology and robust ecosystem give it ample advantages in the growing and diverse global IoT market.

After deducting taxes and transaction fees, Silicon Labs expects net proceeds of approximately $2.3 billion from the transaction, and will use the majority of that — approximately $2 billion — to pay the proceeds through a combination of special dividends and/or share repurchases. shareholders to return.