Synaptics Buying Rights to a Set of Broadcom IoT Technologies
Broadcom (NASDAQ: AVGO) is about to pocket hundreds of millions of dollars by divesting a set of internet of things (IoT) assets. The buyer, human interface hardware and software maker Synaptics (NASDAQ: SYNA), has signed an agreement to buy "certain assets and manufacturing rights" connected to Broadcom's IoT products.
The price is roughly $250 million, Synaptics said in its press release trumpeting the deal. This will be paid entirely in cash.
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Source Fool.com
