Dialog has issued a statement saying it has decided to proceed with due diligence and detailed discussions and that the acquisition was being lined up “to accelerate its growth in IoT (Internet of Things) and enhance its position in the mobile market.”

Synaptics had a market capitalization of about $1.88 billion after its share price increased on the news by about 10 percent.

Synaptics issued a statement saying any transaction will be subject to US and certain foreign regulatory approvals and the approval of the Synaptics’ and Dialog’ boards of directors and Synaptics stockholders.

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