Irvine-based Syntiant Corp. to Acquire Consumer MEMS Microphones Business of Knowles Corp.
Syntiant Corp. in Irvine entered into an agreement to acquire the Consumer MEMS Microphones (CMM) business of Knowles Corp. for $150 million on Sept. 18. The transaction is expected to close by year-end.
The Knowles CMM business is a manufacturer and supplier of high-performance micro-electro-mechanical systems microphones that are utilized in voice and audio applications in smartphones, smart speakers and wearables. The microphones are also used in household appliances and cars. The unit generated $256 million in revenue for fiscal year 2023 and $136 million during the first half of 2024.
“We believe almost every microphone of the future will be AI-enabled, as large language models continue to revolutionize industries by improving natural language understanding and automating complex tasks,†said Kurt Busch, chief executive at Syntiant, in a statement.
The acquisition consists of $70 million in cash and $80 million of preferred stock to be issued upon closing. Jefferies served as exclusive financial advisor to Knowles, and Sidley Austin served as legal counsel. Latham & Watkins LLP acted as legal advisor to Syntiant while Needham & Company acted as financial advisor to Syntiant on the transaction.
