Analog Devices, Inc. (ADI) announced the completion of its previously announced acquisition of Maxim Integrated Products.
The combination further strengthens ADI’s position as a high-performance analog semiconductor company with trailing 12-month revenue of over $9 billion, industry leading margins, and free cash flow of over $3 billion on a pro forma basis.
“Today is a tremendous milestone for ADI and I’m delighted to welcome the Maxim team, who share our passion for solving our customers’ most complex technology problems,” said Vincent Roche, president and CEO.
Under the terms of the definitive agreement, Maxim stockholders received 0.63 of a share of ADI common stock for each share of Maxim common stock. Maxim common stock will no longer be listed for trading on the NASDAQ stock market.
In connection with the closing of the transaction, Tunç Doluca, former president and CEO of Maxim, and Mercedes Johnson, former Founding Executive of Avago Technologies, will join the ADI Board of Directors. Mr. Doluca and Ms. Johnson served on Maxim’s Board of Directors until the closing of the transaction.
“With more than 10,000 engineers and the increased breadth and depth of our best-in-class technologies, we are well-positioned to develop even more complete, cutting-edge solutions for our customers,” added Roche. “Together, we will drive the next waves of analog semiconductor innovation, while engineering a healthier, safer and more sustainable future for all.”
Webcast
ADI plans to host a webcast to discuss its upcoming capital allocation priorities and the updated fourth quarter fiscal 2021 outlook. The webcast is scheduled for September 8th, 2021 at 8:30am ET with Vincent Roche, president and CEO, Prashanth Mahendra-Rajah, senior VP, Finance and Chief Financial Officer, and Michael Lucarelli, senior director of Investor Relations.
The webcast and accompanying presentation may be accessed live on the internet on Analog Devices’ Investor Relations website at investor.analog.com, or by telephone as follows:
Participant Dial-In (domestic & international): (833) 423-0297
International Participant Passcode: 8334230297
*no passcode required for domestic dial-in
A replay of the conference call will be available approximately two hours after the call concludes and may be accessed for up to two weeks, by dialing 855-859-2056 and entering the conference ID: 7115409.
Filed Under: News
Questions related to this article?
👉Ask and discuss on EDAboard.com and Electro-Tech-Online.com forums.
Tell Us What You Think!!
You must be logged in to post a comment.