Skyworks Reduces Its Dependence on Apple With a $2.75 Billion Deal
Skyworks Solutions (NASDAQ: SWKS) recently agreed to buy Silicon Laboratories' (NASDAQ: SLAB) infrastructure and automotive unit for $2.75 billion in cash. Skyworks expects the acquisition to be immediately accretive to its earnings after it closes in the third quarter of 2021.
This acquisition isn't surprising, since Silicon Labs' infrastructure and automotive chips would complement Skyworks' other wireless chips. But more importantly, it could reduce Skyworks' dependence on Apple (NASDAQ: AAPL), which accounted for 56% of its revenue in 2020.
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Source Fool.com
