It's official - Analog Devices will acquire Maxim Integrated

Analog Devices, Inc. announced a definitive agreement under which ADI will acquire Maxim in an all stock transaction that values the combined enterprise at over USD 68 billion.

The transaction, which was unanimously approved by the Boards of Directors of both companies, will strengthen ADI as an analog semiconductor leader with increased breadth and scale across multiple attractive end markets, a press release states. Under the terms of the agreement, Maxim stockholders will receive 0.630 of a share of ADI common stock for each share of Maxim common stock they hold at the closing of the transaction. Upon closing, current ADI stockholders will own approximately 69% of the combined company, while Maxim stockholders will own approximately 31%. The transaction is intended to qualify as a tax-free reorganisation for U.S. federal income tax purposes. “Today’s exciting announcement with Maxim is the next step in ADI’s vision to bridge the physical and digital worlds. ADI and Maxim share a passion for solving our customers’ most complex problems, and with the increased breadth and depth of our combined technology and talent, we will be able to develop more complete, cutting-edge solutions,” said Vincent Roche, President and CEO of ADI. “Maxim is a respected signal processing and power management franchise with a proven technology portfolio and impressive history of empowering design innovation. Together, we are well-positioned to deliver the next wave of semiconductor growth, while engineering a healthier, safer and more sustainable future for all.” “For over three decades, we have based Maxim on one simple premise – to continually innovate and develop high-performance semiconductor products that empower our customers to invent. I am excited for this next chapter as we continue to push the boundaries of what’s possible, together with ADI. Both companies have strong engineering and technology know-how and innovative cultures. Working together, we will create a stronger leader, delivering outstanding benefits to our customers, employees and shareholders,” said Tunç Doluca, President and CEO of Maxim Integrated. Upon closing, two Maxim directors will join ADI’s Board of Directors, including Maxim President and CEO, Tunç Doluca. The transaction is expected to close in the summer of 2021, subject to the satisfaction of customary closing conditions, including receipt of U.S. and certain non-U.S. regulatory approvals, and approval by stockholders of both companies.

UK designer and manufacturer of antennas, filters and mmWave products, Filtronic plc, has won a significant contract from a new major UK defence customer for the supply of battlefield radio communications hardware valued at over GBP 1 million.

Electronic component distribution and supply chain service provider, A2 Global Electronics, announces the opening of its new distribution facility located in the New Tech Park area of Singapore.

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With the rapid development of electronic technology in recent years, printed circuit board (PCB) products are pursuing higher heat dissipation capabilities, with high voltage and high current characteristics, and are developing towards high-density interconnection technology (HDI).

Sensata, an industrial technology company that develops sensors and sensor-based solutions, has acquired 75% of Lithium Balance based in Denmark.

In a WARN notice, the company says that due to changing business needs will require the company to permanently close its facility Milpitas, California.

Intelliconnect (Europe) Ltd the UK based specialist manufacturer of RF, waterproof and cryogenic connectors and cable assemblies, announces that it has moved to a larger facility at the Corby Innovation Hub following sales growth of 30% in 2020.

Intel has appointed 40-year technology industry veteran Pat Gelsinger as its new chief executive officer, effective February 15, 2021. He will succeed Bob Swan, who will remain CEO until Pat starts.

Qualcomm says it has entered into a definitive agreement to acquire NUVIA for approximately USD 1.4 billion before working capital and other adjustments.

Advanced Energy, a provider of precision power conversion, measurement, and control solutions, has completed the acquisition of Versatile Power, a Campbell, California-based provider of radio frequency (RF) and programmable power supplies for medical and industrial applications.

FPGA and embedded FPGA specialist, Achronix Semiconductor, has entered into a business combination agreement with special-purpose acquisition company ACE Convergence Acquisition Corp., which result in a combined entity which will continue as a publicly listed company.

Highly efficient ac/dc power supplies are key to the evolution of the telecom and datacom infrastructure, as power consumption grows rapidly due to hyperscale data centers, enterprise servers, or telecom switching stations. However, the power electronics industry has reached the theoretical limit of silicon MOSFETs.