Today (23), Skyworks Solutions, Inc. announced that it has reached a definitive agreement with Silicon Laboratories Inc., Skyworks will acquire Silicon Labs' infrastructure and automotive businesses in an all-cash asset transaction for a total value of US$2.75 billion.

In the past two decades, Silicon Labs has developed its infrastructure and automotive businesses into leaders in each of its target markets, providing first-class solutions to a highly diversified customer base. The acquisition covers Silicon Labs' power/isolation, timing and broadcast product line technology product portfolio and related assets, which is a highly complementary to Skyworks connectivity product portfolio.

The acquisition will accelerate Skyworks' expansion into the most important growth areas of the industry, including electric and hybrid vehicles, industrial and motor control, power supplies, 5G wireless infrastructure, optical data communications, data centers, automobiles, smart homes and some other applications program.

Mark Thompson, senior vice president and general manager of the infrastructure and automotive business of Silicon Labs, will join Skyworks as part of the transaction, reporting directly to Skyworks President and CEO Liam K. Griffin. In addition, it is expected that approximately 350 employees, including the senior management team of the business, will join Skyworks after the transaction is completed.

The company said that the transaction is expected to be completed in the third quarter of 2021.