Knowles ( (KN) ) just unveiled an announcement.
Knowles Corporation has inked a definitive agreement to sell its Consumer MEMS Microphones business to Syntiant Corp for $150 million, marking a strategic shift towards becoming a premier industrial technology firm. The deal, composed of $70 million in cash and $80 million in Syntiant preferred stock, aligns with Knowles’ focus on medtech, defense, and industrial markets. Subject to regulatory approvals and closing conditions, the transaction is expected to finalize in Q4 2024, with proceeds aimed at reducing debt and repurchasing company stock.
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