Synaptics completed the acquisition of Broadcom's wireless IoT business for $250m.

Synaptics, a developer of custom-designed user interface solutions, completed the acquisition of wireless IoT business from Broadcom, a provider of semiconductors products, for $250m. “This transaction accelerates our broader strategy of shifting toward our IoT business and allows for the opportunity to redeploy our capital to drive top-line growth while increasing profitability with higher gross and operating margins. Acquiring this technology, coupled with the recently announced deal with DisplayLink, gives us greater depth in our product portfolio and positions us to offer more to our existing customer base," Michael Hurlston, Synaptics President and CEO.