Latham & Watkins Advises Syntiant Corp. in US$150 Million Acquisition of Knowles Corporation’s Consumer MEMS Microphone Division
Syntiant Corp., the recognized leader in low power edge AI deployments, has announced that it has signed a definitive agreement to acquire certain assets of Knowles Corporation’s (NYSE: KN) Consumer MEMS Microphones (CMM) business. Syntiant will pay US$150 million in cash and stock for the Knowles’ CMM business, which generated revenues of US$256 million in FY 2023 and US$136 million in the first half of 2024. Related debt and equity financings of Syntiant are being led by Structural Capital and Boardman Bay Capital Management. The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions.
Latham & Watkins LLP represents Syntiant in the acquisition with a corporate deal team led by Orange County partner Nima Movahedi and Bay Area partner Benjamin Potter, with associates Taylor Ashton and Christopher Siino; an equity financing team led by Bay Area partner Michael Podolny, with associates AJ Yoxsimer and Zack Dawson; and a debt financing team led by Los Angeles/Bay Area partner Elizabeth Oh, with associate Rychelle Andersen. Advice was also provided on intellectual property matters by Bay Area counsel Arielle Singh, with associates Fiona Gillan and Gaby Forte; on benefits matters by Bay Area partner Ashley Wagner, with associate Shan Shan; on tax matters by Bay Area partner Kirt Switzer, with associate Derek Gumm; on regulatory matters by Bay Area partner Joshua Holian, Washington, D.C. counsel Joseph Simei, and Brussels counsel Philipp Studt, with associates Romain Perrois, Yanyan Yang, and Hanna Nunez Tse; on insurance matters by Los Angeles partner Harrison White, with associate Lauren Richardson; on data privacy matters by associate Jennifer Howes; on real estate matters by San Diego partner James Mann; and on local matters in Japan by Tokyo partners Hiro Takagi and Yohei Nakagawa, with associate Takatomo Terasaki.