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Synaptics to Purchase DSP Team, Expanding Leadership in Minimal Ability AI Technological innovation

Even further Accelerates IoT Diversification While Strengthening Wi-fi Connectivity Portfolio

SAN JOSE, Calif., Aug. 30, 2021 (World NEWSWIRE) — Synaptics Included (Nasdaq: SYNA) and DSP Group, Inc. (Nasdaq: DSPG) these days introduced the signing of a definitive arrangement, unanimously authorised by the boards of administrators of equally businesses, whereby Synaptics acquires DSP Team, a primary world-wide supplier of voice and wi-fi chipset solutions for converged communications, at $22.00 for every share in an all-hard cash transaction. The blend is predicted to produce annual operate price synergies of $30 million for the new entity to be realized within just 12 months of closing and is right away accretive to Synaptics’ non-GAAP earnings. The transaction is envisioned to be financed by means of a mixture of dollars on hand and a completely fully commited, incremental personal debt financing arrangement with a projected close by the conclude of calendar 12 months 2021, topic to DSP Team shareholder acceptance and customary closing ailments.

DSP Group has leadership positions throughout several marketplaces in the World-wide-web of Audio Factors (IoAT) with major development opportunities in low power SmartVoice, unified communications & collaboration, and wireless IoT gadgets. Most of these solutions are rather related to Synaptics’ present client foundation, furthering the strategy of cross-selling portfolio gadgets.

Synaptics not too long ago announced its Low Electrical power Edge AI initiative, which opens a substantial extended-term possibility with ABI research predicting roughly 2.5 billion TinyML models to be bought by 2030. The addition of DSP Group’s ideal-in-class SmartVoice products to Synaptics’ Katana intelligent vision platform creates a total portfolio that can the two serve present client needs and tackle the important potential marketplace. In addition, the blend further strengthens Synaptics’ industry-primary wi-fi connectivity portfolio by incorporating DECT Ultra Very low Power (ULE), which permits a fully-showcased clever house safety answer.

“We go on to devote in technologies that tilt our products blend towards IoT apps,” stated Michael Hurlston, President and CEO of Synaptics. “DSP Group’s skills in SmartVoice and ULE wireless alternatives, coupled with Synaptics’ leadership placement in much-discipline speech recognition and IoT directed Wi-Fi/BT combos permits us to produce ever more differentiated options to our blended buyer foundation, though positioning us to lead the transition to AI enabled units at the edge of the network.”

“We are energized to join forces with Synaptics, a regarded leader in goods for IoT. This mixture presents a great result for our shareholders who have supported us as a result of this journey, providing significant and certain price,” mentioned Ofer Elyakim, CEO of DSP Group. “Our complementary portfolios alongside one another with the mixture of our entire world-course engineering groups produces an enjoyable opportunity for DSP Group’s core know-how to increase additional into our existing customers’ item portfolio.”

“The DSP Team board of administrators unanimously supports this transaction as it signifies an excellent outcome for our shareholders,” commented Ken Traub, Chairman of the Board of Administrators, DSP Team. “We would like to thank DSP Group’s administration and personnel for their dedication to executing our tactic and congratulate them on this enjoyable accomplishment.”

Advisors

Goodwin Procter LLP is serving as lawful counsel and Barclays is giving dedicated financing to Synaptics. Goldman Sachs & Co. LLC is serving as fiscal advisor and Morrison & Foerster LLP is serving as lawful counsel to DSP Team.

Webcast and Meeting Contact Facts:

Synaptics will host a teleconference and webcast to examine the transaction today, August 30, 2021 at 5:30 AM Pacific Time. To obtain the connect with, dial (833) 614-1539 and enter meeting ID 9148606. Be part of the webcast at https://edge.media-server.com/mmc/p/p72mphmz.

Supplementary slides and archived webcast of the meeting connect with will be obtainable from the “Investor Relations” section of the company’s web site at https://investor.synaptics.com/

About Synaptics Integrated:

Synaptics (Nasdaq: SYNA) is shifting the way human beings interact with linked products and facts, engineering exceptional activities throughout the residence, at do the job, in the automobile, and on the go. Synaptics is the partner of selection for the world’s most innovative clever procedure vendors who integrate several experiential systems into platforms that make our digital life far more effective, insightful, secure, and satisfying. These prospects combine Synaptics’ differentiated technologies in contact, display screen, and biometrics with a new era of highly developed connectivity and AI-increased video clip, vision, audio, speech, and stability processing. Abide by Synaptics on LinkedIn, Twitter, and Fb, or go to synaptics.com.

About DSP Team

DSP Group®, Inc. (NASDAQ: DSPG) is a international chief in wireless chipsets for a vast vary of clever-enabled gadgets. The firm was launched in 1987 on the concepts of working experience, insight and continual progression which enable the business to continually deliver up coming-era options in the places of voice, audio, video and data connectivity. DSP Group, an pro in voice processing, invests seriously in innovation for the clever upcoming and layouts foremost-edge semiconductor technology that is enabling our customers to acquire a new wave of products and solutions that convey improved person a
ctivities by way of innovation. For far more info, take a look at www.dspg.com.

Additional Information and Where to Come across It

In connection with the transaction, DSP Team, Inc. (“DSP Group”) will file applicable products with the Securities and Exchange Commission (the “SEC”), which includes a proxy statement on Schedule 14A. Immediately after submitting its definitive proxy statement with the SEC, DSP Group will mail the definitive proxy assertion and a proxy card to each individual stockholder entitled to vote at the particular conference related to the transaction. STOCKHOLDERS OF DSP Group ARE URGED TO Examine THESE Products, Which includes ANY AMENDMENTS OR Health supplements THERETO, AND ANY OTHER Related Paperwork IN Link WITH THE TRANSACTION THAT DSP Group WILL FILE WITH THE SEC WHEN THEY Develop into Available Mainly because THEY WILL Contain Crucial Info ABOUT DSP Team AND THE TRANSACTION. The preliminary proxy statement, the definitive proxy assertion and other related elements for DSP Group stockholders in relationship with the transaction (when they grow to be accessible), and any other paperwork submitted by DSP Team with the SEC, may well be acquired absolutely free of cost at the SEC’s site (http://www.sec.gov) or at DSP Group’s site (http://www.dspg.com) or by crafting to DSP Team at 2055 Gateway Put, San Jose, California 95110, notice Investor Relations.

Contributors in the Solicitation

DSP Group and sure of its administrators and govt officers and other members of administration and workers could be considered to be participants in the solicitation of proxies from DSP Group’s stockholders with regard to the transaction. Facts about DSP Group’s administrators and executive officers and their possession of DSP Group’s widespread inventory is established forth in DSP Group’s proxy statement on Routine 14A filed with the SEC on April 30, 2021, and subsequent improvements built by these folks on Statements of Variations in Possession on Form 4 filed with the SEC. Information and facts relating to the identification of the contributors and their direct and oblique pursuits in the transaction will be established forth in the proxy assertion and other materials to be filed by DSP Team in connection with the transaction.

Authorized Observe About Ahead-Hunting Statements

This launch consists of forward-wanting statements that are subject to the harmless harbors developed beneath the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Ahead-seeking statements give our existing expectations and projections relating to our economic affliction, results of operations, ideas, targets, potential overall performance and enterprise, like our expectations relating to the proposed transaction in between Synaptics and DSP Group, the predicted timetable for finishing the transaction and the probable rewards of the transaction like anticipated synergies, and likely impacts on our business of the COVID-19 pandemic, and can be recognized by the fact that they do not relate strictly to historical or recent points. These types of ahead-looking statements may well involve words and phrases such as “assume,” “foresee,” “intend,” “feel,” “estimate,” “approach,” “target,” “strategy,” “continue,” “may,” “will,” “should,” versions of these kinds of words, or other words and terms of equivalent this means. All ahead-seeking statements replicate our ideal judgment and are based mostly on various factors relating to our operations and business atmosphere, all of which are hard to predict and quite a few of which are over and above our regulate. These kinds of factors consist of, but are not minimal to, the possibility that many situations to the consummation of the proposed transaction among Synaptics and DSP Group will not be content or waived, the ability to productively combine the obtained organization into Synaptics’ portfolio, the failure to know the anticipated gains of the transaction and envisioned synergies relevant thereto, the adverse impact associated with the announcement or pendency of the proposed transaction on the small business interactions, working results and staff of Synaptics and DSP Team, the chance that our enterprise, success of operations and fiscal condition and potential clients may be materially and adversely influenced by the COVID-19 pandemic and that significant uncertainties keep on being connected to the effect of COVID-19 on our small business operations and future final results world supply chain disruptions and component shortages that are presently impacting the semiconductor market as a complete the hazards as identified in the “Risk Elements,” “Management’s Dialogue and Assessment of Financial Condition and Benefits of Operations” and “Business” sections of the most current Once-a-year Report on Kind 10-K and the most modern Quarterly Report on Sort 10-Q (together with that the effects of the COVID-19 pandemic may possibly also exacerbate the threats talked about therein) and other pitfalls as determined from time to time in the Securities and Trade Commission reports of Synaptics and DSP Group. Forward-hunting statements are based mostly on details readily available to Synaptics and DSP Group on the day hereof, and neither business has, and every expressly disclaims, any obligation to publicly release any updates or any modifications in expectations, or any modify in gatherings, situations, or conditions on which any forward-on the lookout statement is based mostly. Precise effects and the timing of sure situations could differ materially from the forward-searching statements.

All other marks are the house of their respective house owners.

For extra facts:

Synaptics Trader Relations
Munjal Shah
[email protected]

Synaptics Public Relations
Sarah Siripoke
[email protected]

DSP Group Investor Relations
Tali Chen
[email protected]