RTTNews | Jul 20, 2020 04:49PM EDT

16:48 Monday, July 20, 2020 (RTTNews.com) - Synaptics Incorporated (SYNA) has agreed to acquire DisplayLink Corp. for $305 million in an all-cash deal. DisplayLink is a provider of high-performance video compression technology. DisplayLink's software compression technology enables universal docking and casting of high bandwidth video from any device to any display using any transport medium such as USB, Ethernet or Wi-Fi.

Synaptics expects the transaction to add approximately $94 million in annualized sales and be immediately accretive to non-GAAP gross margins, non-GAAP operating margins, and non-GAAP earnings post-close. The company anticipates to close the deal in the first quarter of fiscal 2021, and be financed from existing cash on hand.

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