June 8, 2018 / 5:47 PM / in 15 days

Dialog Semiconductor in Synaptics deal talks: Bloomberg

FRANKFURT (Reuters) - Dialog Semiconductor (DLGS.DE) is in early talks to merge with U.S. touch-pad technology company Synaptics Inc (SYNA.O), Bloomberg reported on Friday, citing people familiar with the matter.

FILE PHOTO: The Dialog Semiconductor logo on a flag in Germering near Munich, Germany, August 15, 2016. REUTERS/Michaela Rehle/File Photo

Dialog has a market value of about 1.15 billion euros ($1.4 billion) while Synaptics, the shares of which jumped as much as 15 percent after the report, is valued at $1.6 billion.

Dialog and Synaptics declined to comment on the report.

Any deal could make Dialog less dependent on orders from Apple (AAPL.O). Analysts estimate that Dialog derives more than half its revenue from supplying Apple with power management chips.

The company’s stock has lost nearly 20 percent of its value so far this month after is said that Apple had cut orders for chips for its new iPhone models.

Reporting by Maria Sheahan; Additional reporting by Sonam Rai; Editing by David Goodman

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