Consortium of investors to sell Validity Sensors to Synaptics
Oct 10, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
Validity Sensors, Inc., a designer and developer of biometric fingerprint sensors for information, communication and entertainment devices, has signed a definitive agreement to be acquired by Synaptics, Inc., a developer of human interface solutions. Both the companies are based in the US.
Under the terms of the agreement, Synaptics will pay approximately $92.5 million in stock and cash at the closing plus potential performance payments over a multi-year period for total potential consideration of up to $255 million. The stock component is expected to be in the range of 1.5 million to 2.3 million shares.
Validity Sensors has been backed Intel Capital, TeleSoft Partners, Crosslink Capital, Inc., Panorama Capital, Qualcomm Ventures and VentureTech Alliance LLC.
The acquisition is expected to close by the end of 2013.
Deal Value (US$ Million) 92.5
Deal Type Venture Finance
Deal Status Announced: 2013-10-09
Target (Company) Validity Sensors, Inc.
Acquirer (Company) Synaptics, Inc.
The acquisition will allow Synaptics to gain access to the biometrics market and strengthen its portfolio of touch-based technologies with the diversification into fingerprint-sensing capabilities.
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