Analog Devices to sell product line to Invensense

InvenSense will acquire the assets related to analog and digital output microphones, as well as certain support operations, for USD 100 million in cash. These microphones were primarily used in consumer applications and are expected to represent less than one percent of ADI’s total revenue in the fourth quarter of fiscal year 2013, which ends November 2, 2013. “This agreement will allow ADI to focus on combining precision sensing technology and signal processing systems expertise to deliver the highest value to customers in our highest priority markets while driving sustainable growth and profitability for ADI,” said Mark Martin, vice president of ADI’s Sensor Products and Technology Group. “The impact of high performance inertial sensing innovation is increasing across automotive, industrial, and healthcare applications and we are focusing our resources accordingly.” Pursuant to the agreement potential additional amounts will be payable to ADI upon achievement over twelve months of certain revenue milestones by InvenSense. The boards of directors of both companies have approved the transaction, which is expected to close by the end of October 2013.