Synaptics shares up on buyout disclosure

Sensor technology company confirms it is in talks to be acquired

San Jose-based Synaptics is talking about selling itself, and the touch-sensor technology company’s shareholders like the sound of that conversation.

Synaptics shares climbed 11.5 percent, to close Wednesday at $54.46, after the company confirmed it is in talks to be acquired by U.K.-based Dialog Semiconductor. Synaptics officials said they had no comment on the matter, aside from referring to a company statement that said Synaptics was holding “transaction discussions” with Dialog. That statement also said there was “no assurance” that an acquisition might result from the talks.

Synaptics makes controllers and touch-based products used in everything from laptop computers to smartphones and tablets. The company found early success years ago when its products were incorporated into Apple’s iPods, and Synaptics still counts Apple, along with Samsung, HP and Lenovo, among its customers.

The company has about 2,200 employees, with about 60 percent of those workers in Asia. The bulk of Synaptics’ U.S.-based employees work at the company’s head-

quarters in San Jose.

Dialog Semiconductor specializes in power-management chips, for mobile phones and other devices, with Apple reportedly its biggest customer. However, in May, Dialog cut its sales forecast for 2018 by 5 percent after saying Apple will reduce its use of Dialog’s products. Dialog said in a statement on Tuesday that it was talking with Synaptics about acquiring the company “to accelerate its growth in IoT (internet of things) and enhance its position in the mobile market.”