KUALA LUMPUR, Aug 27 (Bernama) -- Analog Devices Inc has announced the completion of its previously announced acquisition of Maxim Integrated Products Inc.
According to a statement, the combination further strengthens ADI’s position as a high-performance analog semiconductor company with trailing 12-month revenue of over US$9 billion, industry leading margins, and free cash flow of over US$3 billion on a pro forma basis. (US$1 = RM4.199)
“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,” said President and Chief Executive Officer, Vincent Roche.
“Together, we will drive the next waves of analog semiconductor innovation, while engineering a healthier, safer and more sustainable future for all.”
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 Chief Executive Officer of Maxim, and Mercedes Johnson, former Founding Executive of Avago Technologies, will join the ADI Board of Directors.
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 on Sept 8.
Headquartered in Wilmington, MA, ADI serves 125,000 customers worldwide with more than 75,000 products in the industrial, communications, automotive, and consumer markets.
More details at http://www.analog.com.
-- BERNAMA
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