What is the current revenue of Silicon Labs
orld. Customers are using our technology to build secure wireless devices that improve lives, transform industries and grow economies. Working together, we are measurably solving tough global challenges in energy, health infrastructure production and more. These results personally inspired me. I'm an engineer at heart, I find nothing more satisfying than working with others to find innovative solutions to tough problems. And that's exactly what we've been doing at Silicon Labs for nearly 25 years.
As pioneers of wireless innovation, we've simplified the complexity of implementing wireless technology from silicon to cloud, so developers can bring the power of secure intelligent connectivity to the world. With the major divestiture of our I&A business complete, the vision, strategy and roadmap for the IoT set in our current outstanding financial results reported, I decided and got Board approval to officially announced my retirement from Silicon Labs effective January 1, 2022. Silicon Labs President Matt Johnson, who has been managing the IoT business since 2018 will become our next Chief Executive Officer at that time. Matt and I have worked closely together to set our company's purpose and promise, create the strategy for a leading wireless platform and product portfolio. And most importantly, reinforce our belief that people belong at the center of everything we do.
I'm confident Matt will continue to demonstrate our values the foremost of which is do the right thing for all stakeholders. Under Matt's leadership, Silicon Labs will continue its proven track record of sustainable growth, meet its commitments and conduct the business with integrity. For the remainder of the year I will work to facilitate a smooth transition, both internally and externally. After my services complete, I will continue to support Silicon Labs as a member of the Technical Advisory Board. Matt will be joining us on the Q&A and also for the Q3 earnings call.
Before we take questions, I'd like to give Matt a chance to say a few words. Matt?
Matt Johnson -- President
Thank you, Tyson. I'm incredibly excited to lead Silicon Labs as we embark on taking the company to the next level. We have great talent and technology, all now focused on the IoT wireless space that is rapidly growing. Our position to accelerate our impact has never been greater. I'm looking forward to sharing more with you on our Q3 update.
I will now turn the call back over to Austin.
Austin Dean -- Manager of Investor Relations
Thank you, Matt. Thank you for joining Silicon Labs Q2 2021 financial and business update. I recognize, we've covered a lot of information. So, I will now open the call for questions. To accommodate as many people as possible before the market opens, I ask you to limit your time to one question with one follow-up inquiry if needed. Operator?
Questions and Answers:
Operator
Thank you. We will now begin the question-and-answer session. [Operator Instructions] Our first question comes from Gary Mobley from Wells Fargo Securities. Please go ahead.
Gary Mobley -- Wells Fargo Securities -- Analyst
Good morning, everybody. Matt, Tyson, let me extend my congratulations on both of your milestones. Wanted to start out by asking about your plans for the net proceeds. Specifically, I think the $2 billion, you had originally outlined for either a one-time dividend, share buyback or other uses some hoping to get your current view on the options and as well you mentioned and this is linked to the use of cash. You mentioned that you're looking at different options to expand capacity might you use some of that cash for things like pre-purchase of wafers to secure that?
Tyson Tuttle -- Chief Executive Officer
Hi Gary, this is John. Yeah, really no change in terms of the capital deployment. We are expecting to deploy roughly $2 billion of the cash that's in the company now, which is around $3.3 billion currently ahead of final payments for taxes and fees, et cetera, associated with the deal. No change in our view of how that might come about either through share repurchase pr
orld. Customers are using our technology to build secure wireless devices that improve lives, transform industries and grow economies. Working together, we are measurably solving tough global challenges in energy, health infrastructure production and more. These results personally inspired me. I'm an engineer at heart, I find nothing more satisfying than working with others to find innovative solutions to tough problems. And that's exactly what we've been doing at Silicon Labs for nearly 25 years.
As pioneers of wireless innovation, we've simplified the complexity of implementing wireless technology from silicon to cloud, so developers can bring the power of secure intelligent connectivity to the world. With the major divestiture of our I&A business complete, the vision, strategy and roadmap for the IoT set in our current outstanding financial results reported, I decided and got Board approval to officially announced my retirement from Silicon Labs effective January 1, 2022. Silicon Labs President Matt Johnson, who has been managing the IoT business since 2018 will become our next Chief Executive Officer at that time. Matt and I have worked closely together to set our company's purpose and promise, create the strategy for a leading wireless platform and product portfolio. And most importantly, reinforce our belief that people belong at the center of everything we do.
I'm confident Matt will continue to demonstrate our values the foremost of which is do the right thing for all stakeholders. Under Matt's leadership, Silicon Labs will continue its proven track record of sustainable growth, meet its commitments and conduct the business with integrity. For the remainder of the year I will work to facilitate a smooth transition, both internally and externally. After my services complete, I will continue to support Silicon Labs as a member of the Technical Advisory Board. Matt will be joining us on the Q&A and also for the Q3 earnings call.
Before we take questions, I'd like to give Matt a chance to say a few words. Matt?
Matt Johnson -- President
Thank you, Tyson. I'm incredibly excited to lead Silicon Labs as we embark on taking the company to the next level. We have great talent and technology, all now focused on the IoT wireless space that is rapidly growing. Our position to accelerate our impact has never been greater. I'm looking forward to sharing more with you on our Q3 update.
I will now turn the call back over to Austin.
Austin Dean -- Manager of Investor Relations
 Thank you, Matt. Thank you for joining Silicon Labs Q2 2021 financial and business update. I recognize, we've covered a lot of information. So, I will now open the call for questions. To accommodate as many people as possible before the market opens, I ask you to limit your time to one question with one follow-up inquiry if needed. Operator?
Questions and Answers:
Operator
Thank you. We will now begin the question-and-answer session. [Operator Instructions] Our first question comes from Gary Mobley from Wells Fargo Securities. Please go ahead.
Gary Mobley -- Wells Fargo Securities -- Analyst
Good morning, everybody. Matt, Tyson, let me extend my congratulations on both of your milestones. Wanted to start out by asking about your plans for the net proceeds. Specifically, I think the $2 billion, you had originally outlined for either a one-time dividend, share buyback or other uses some hoping to get your current view on the options and as well you mentioned and this is linked to the use of cash. You mentioned that you're looking at different options to expand capacity might you use some of that cash for things like pre-purchase of wafers to secure that?
Tyson Tuttle -- Chief Executive Officer
Hi Gary, this is John. Yeah, really no change in terms of the capital deployment. We are expecting to deploy roughly $2 billion of the cash that's in the company now, which is around $3.3 billion currently ahead of final payments for taxes and fees, et cetera, associated with the deal. No change in our view of how that might come about either through share repurchase pr