Israeli DSPG is sold to Synaptics for $ 538 million at a share price of $ 22
Posted on Aug 30, 2021 by Ifi Reporter
The Israeli company DSPG, which is engaged in chip development, is sold to Synaptics for $ 538 million. The deal was executed at a share price of $ 22, a premium of 18% over the share price at the close of trading last night, which reflected a market capitalization of $ 456 million.
The transaction will be made entirely in cash. The announcement from the two companies did not specify the DSPG value of the transaction, and is based on the number of shares published in Yahoo Finance, 24.46 million. Synaptics is traded at a value of $ 7 billion.
DSPG is a long-standing company established in 1987 and specializes in chip design for various communication applications. Over the years, Siva and DSPC companies were split from it, and among its first employees were also audiocodes entrepreneurs in which DSPG invested. The company currently focuses on the development of chips for three technology industries: the field of corporate communications; Smart home domain; And the field of artificial intelligence in end devices. The company has development centers in Israel, England, Germany and India and outsources production. The company employs about 370 employees, about 220 of them in Israel.
Last year, the company's revenue shrank by 3% to $ 114 million, and this year the five analysts surveying it predict that it will grow by 24% and its revenue will reach $ 142 million. In February, the company's CEO Ofer Elyakim said in an interview with TheMarker: Per year. Therefore, we turned to improvement. I expect that we will reach double-digit operating profit in about two more years, through strong revenue growth. "
Articles Archive
Top Categories
ABOUT IFI TODAY
Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum