Touchscreen chipmaker Synaptics Inc said it agreed to purchase Japanese display chipmaker Renesas SP Drivers Inc for $475 million to expand its product offerings. Synaptics said the deal is expected to close in the fourth quarter and immediately add to adjusted profit.
Synaptics Incorporated is a developer and supplier of custom-designed human interface solutions that enable people to interact with a range of mobile computing, communications, entertainment, and other electronic devices. Shares of SYNA fell by 1.32% or $-0.89/share to $66.52. In the past year, the shares have traded as low as $34.98 and as high as $69.31. On average, 1279850 shares of SYNA exchange hands on a given day and today's volume is recorded at 589351.
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