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Date: 10-10-13

Synaptics to acquire fingerprint tech expert Validity

Synaptics has signed a definitive Agreement to acquire biometric fingerprint authentication solutions provider Validity Sensors, Inc. “Biometrics has long been of interest to Synaptics as it complements our existing touch-based solutions and offers an exciting new way to interact with devices,” said Rick Bergman, President and CEO, Synaptics. “We are thrilled to be adding the world class Validity team to the Synaptics family. This acquisition is a significant step forward for the company and serves as a proof point of our dedication for continued growth, innovation and commitment to providing the industry’s best and broadest portfolio of human interface solutions.” “Synaptics’ acquisition of Validity puts our vision of having Natural ID on every mobile computing device on the fast track,” said Rob Baxter, CEO, Validity. "The opportunity for our people, our shareholders and our technology, along with Synaptics’ commitment to owning the human interface, made this partnership a natural fit. The acquisition adds Validity’s world-class biometrics engineering team to a Synaptics team known for in-depth, system level engineering expertise.” Synaptics to pay approximately $92.5 million in stock and cash at the closing plus potential performance payments over a multi-year period for total potential consideration of up to $255.0 million. The stock component is expected to be in the range of 1.5 million to 2.3 million shares. The acquisition is expected to close in the current quarter, subject to customary closing conditions and regulatory reviews, as necessary. Additional details can be found in Synaptics’ Current Report on form 8-K, filed October 9, 2013. Preliminary First Quarter Fiscal 2014 Revenue Results Synaptics also announced that it expects revenue for the first quarter of fiscal 2014 to be approximately $220 million, above the mid-point of its previously provided guidance range of $210 to $225 million. In addition, during the first quarter, the Company repurchased over 1.2 million shares of common stock or more than 3.5% of shares outstanding and has $110 million available under its current authorization.

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