Renesas SP Drivers is a joint venture established by Renesas Electronics, Sharp Corporation and Powerchip Group in April 2008. It engages in the business of LCD Drivers that drive small and mid-sized LCD panels.
Apple was initially in talks to acquire the 55% stake in the company, however those talks fell through. With this deal, Synaptics would integrate its touch technology with Renesas' display drivers into one chip -- saving manufacturing costs.
"There is no one else that can do touch display driver integration right now. There is no other competitor."
Synaptics is a formal supplier for Apple when the company sourced the click-wheel for iPods. While it would have made more sense for Apple to purchase Renesas, it looks like Synaptics is in a viable position to do more business with Apple going forward.