Dialog CEO says company will continue to grow organically and through acquisitions, just not with Synaptics
SAN FRANCISCO — Analog and mixed-signal chipmaker Dialog Semiconductor said it terminated discussions with touch screen controller vendor Synaptics for undisclosed reasons.
Jalal Bagherli, Dialog's CEO, said through a statement that the company would continue to extend its product line through both organic growth and acquisitions.
Dialog (London) announced in June it would conduct detailed discussions with Synaptics over a potential acquisition.
The Reuters news service, citing an unnamed source, reported that talks between Dialog and Synaptics collapsed after Synaptics balked at the proposed terms, including the value of Dialog's offer.
Synaptics (San Jose, Calif.) also issued a statement saying the companies had terminated merger discussions. The company said it would have no further comment on the discussions.
“We are extremely confident in our strategic direction and excited by the significant opportunities before us," said Rick Bergman, Synaptics president and CEO. “We are extremely confident in our strategic direction and excited by the significant opportunities before us. We are well-positioned to continue as a standalone growth company and will remain disciplined in generating superior long-term value for our shareholders."
— Dylan McGrath is the editor-in-chief of EE Times.