Synaptics Enters a New Wireless Deal with Broadcom

Rhea-AI Summary

Synaptics Incorporated has expanded its wireless license agreement with Broadcom, adding new products and technologies. The agreement extends Synaptics' exclusive rights in certain markets until 2026. The deal includes Broadcom's Wi-Fi 7, Bluetooth 6.0, and Bluetooth Enterprise True Wireless Stereo (TWS) IP, allowing Synaptics to meet the increasing demand for IoT connectivity. The company plans to release its first Wi-Fi 7 devices for customer sampling in 2024.

SAN JOSE, Calif., July 31, 2023 (GLOBE NEWSWIRE) -- Synaptics^® Incorporated (Nasdaq: SYNA) today announced that it has added new products and technologies to its wireless license agreement with Broadcom and extended its original 2020 exclusive rights in certain markets by three years to 2026. The deal adds Broadcom’s best-in-class Wi-Fi 7, Bluetooth 6.0, and Bluetooth Enterprise True Wireless Stereo (TWS) IP to accelerate Synaptics’ roadmap to meet the growing demand for robust IoT connectivity across an increasingly diverse range of applications such as home multimedia, automotive infotainment, security cameras, tablets, and audio headsets.

“Since the original acquisition, we’ve had incredible success in expanding our wireless opportunities, and it has been instrumental to our growth in our core IoT markets,” said Michael Hurlston, President and CEO of Synaptics. “This new deal allows us to add Broadcom’s best-in-class IP to our portfolio in the high end to extend our leadership in those segments while we continue to innovate around ultra-low-power, low-cost, and wireless MCU solutions for the broader IoT market.”

Synaptics’ first Wi-Fi 7 devices will be available for customer sampling in 2024 for high-performance security and high-throughput video and audio applications. The Bluetooth 6.0 IP is dual-core and supports Bluetooth, Bluetooth Low Energy (LE), and Bluetooth LE-plus-Thread, which unlocks a wide range of markets, including home automation, industrial, and medical. The Bluetooth TWS IP enables the extension of Synaptics’ leading enterprise audio offerings into a range of high-performance wireless SKUs.

Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are the property of their respective owners.

About Synaptics Incorporated:
Synaptics (Nasdaq: SYNA) is changing how we engage with connected devices and data by engineering exceptional experiences throughout the home, at work, in the car, and on the go. Synaptics is the partner of choice for the world’s most innovative intelligent system providers who are integrating multiple experiential technologies into platforms that make our digital lives more productive, insightful, secure, and enjoyable. These customers combine Synaptics’ differentiated technologies in touch, display, and biometrics with a new generation of advanced connectivity and AI-enhanced video, vision, audio, speech, and security processing. Follow Synaptics on LinkedIn, Twitter, and Facebook, or visit www.synaptics.com.

For further information, please contact:

Munjal Shah
Head of Investor Relations
munjal.shah@synaptics.com

FAQ

What did Synaptics announce?

Synaptics announced an expansion of its wireless license agreement with Broadcom, adding new products and technologies.

What does the agreement with Broadcom include?

The agreement includes Broadcom's Wi-Fi 7, Bluetooth 6.0, and Bluetooth Enterprise True Wireless Stereo (TWS) IP.

What is the duration of the exclusive rights extension?

The exclusive rights in certain markets have been extended by three years to 2026.

What are the applications for the new products?

The new products will be used in applications such as home multimedia, automotive infotainment, security cameras, tablets, and audio headsets.

When will Synaptics release its first Wi-Fi 7 devices?

The first Wi-Fi 7 devices will be available for customer sampling in 2024.