Silicon Labs is considering selling its analog chip business, according to a Bloomberg report referencing anonymous sources.
Silicon Labs is a fabless chip company that sells components and software for Internet of Things (IoT) infrastructure, industrial automation, and other consumer and automotive products.
Bloomberg reported it had hired advisors to help it consider the sale of its analog business which could sell for between $2 billion and $3 billion.
The company's share price jumped 10 percent on Friday afternoon on the report.
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