Synaptics to buy Japanese chipmaker, raises revenue forecast

June 10 Tue Jun 10, 2014 4:23pm EDT

June 10 (Reuters) - Touchscreen chipmaker Synaptics Inc said it agreed to buy Japanese display chipmaker Renesas SP Drivers Inc for $475 million to expand its product offerings.

Synaptics said the deal is expected to close in the fourth quarter and immediately add to adjusted profit.

Synaptics raised its fourth-quarter revenue forecast to $300-$310 million from $275-$295 million and said it expects full-year 2014 revenue to grow 41-42 percent due to better-than-expected sales of mobile and PC products. (Reporting by Soham Chatterjee; Editing by Savio D'Souza)

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