Skyworks Acquiring Silicon Labs' Infrastructure and Auto Business for $2.75 Billion
Skyworks Solutions (NASDAQ: SWKS) is beefing up its business with the addition of assets from Silicon Laboratories (NASDAQ: SLAB). The former has struck a deal with the latter to buy its infrastructure and automotive unit. The price is $2.75 billion, which is to be paid fully in cash.
Skyworks said it anticipates funding the buy with the cash on its books, plus committed debt financing that has been arranged by JPMorgan Chase unit J.P. Morgan. At the end of its most recently reported quarter, the company had $617 million in cash.
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Source Fool.com
