Synaptics reaches $475 million buyout deal with iPhone display chip manufacturer

Synaptics Inc. has reached a deal to buy iPhone display chip maker Renesas after talks on a potential deal between Renesas and Apple fell through, Reuters reports. Synaptics is a former Apple supplier, but now provides parts for competitor Samsung’s flagship smartphones.

Analysts predict that Synaptics will integrate its own touchscreen technology with the display chips created by Renesas to cut manufacturing costs and create an all-in-one solution that is currently unrivaled in the market.