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Wednesday, June 11, 2014
Synaptics to Buy Renesas SP Drivers For $475 million

Synaptics Inc. will potentially become Apple's customer following a $475 million acquisition of Renesas SP Drivers, the supplier of display chips for the iPhone.

Synaptics would integrate its touch technology with Renesas' display drivers into one chip, saving manufacturing costs.

Renesas Electronics holds a 55 percent stake in Renesas SP Drivers, while Sharp has a 25 percent stake and Taiwan's Powerchip holds the remaining.

Synaptics said on Tuesday that the deal was expected to immediately add to adjusted profit after its expected close in the fourth quarter.

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