Synaptics Acquires iPhone Display Chipmaker

According to the latest rumors, Synaptics has purchased Renesas Electronics division called Renesas SP Drivers. The firm produces display chips for various smartphones including Apple's iPhone.

Earlier it was reported that the guys from Cupertino were interested in acquisition. However, the two companies failed to reach an agreement. As noted by Reuters, Synaptics paid about $475 million for Renesas SP Drivers.

Synaptics reportedly will use this acquisition to develop a single-chip solution that combines its touch technology with Renesas SP's display technology. This combined chipset is projected to improve display performance and lower component cost for smartphone makers such as Apple and Samsung.

Though Renesas SP Drivers changed its owner, the guys from Cupertino are likely to continue working with this company.

[via MacRumors]