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Any deal would likely be smaller than would have been the case
with Synaptics, a $1.6 billion specialist in touchpad
technology, and Dialog would look to focus on its strengths in
consumer products and the Internet of Things (IoT).
"We are not looking to jump miles away from where we are good
at," Bagherli told analysts on a call after Dialog reported a 16
percent rise in second-quarter revenues and guided for flat
gross margins in 2018 as a whole.
Dialog shares traded 4 percent lower after his comments.
Dialog, which counts Apple as its top customer, is trying to
diversify its business, ramping up products used in low-energy
bluetooth headsets, wearable devices and smart homes.
The iPhone maker opted in May to source power management chips (PMICs)
from two suppliers - depriving Dialog of an exclusive deal.
Despite the Apple setback, Bagherli said Dialog was still
pitching for and winning business from the U.S. smartphone
maker.
"The relationship is very healthy," he said. "All other products
are up for grabs and we are grabbing a good share."
Commenting further on the Synaptics talks, Bagherli said they
had not gone beyond the due-diligence stage and there had been
no contractual negotiations.
"In any acquisition of this size there's a lot of factors to get
right," he said. "We didn't feel that the right set of
parameters were coming together to create value for our
shareholders."
(Reporting by Douglas Busvine; Editing by Maria Sheahan)
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