On a pro forma basis, the remaining Knowles businesses, inclusive of Cornell Dubilier's full year results, had $560 million of revenue in 2023.

Knowles will receive $150 million in total consideration, subject to net working capital and other adjustments, consisting of $70 million in cash and $80 million in Syntiant preferred stock.

Knowles intends to use the net cash proceeds from the sale of CMM to fund the paydown of debt and the repurchase of Company stock.