Analog Devices Inc (ADI) today announced the completion of its previously announced acquisition of Maxim Integrated Products. The deal, which is valued at more than $ 20 billion, allegedly "further strengthens ADI's position as a high-performance analog semiconductor company."
“Today is an important milestone for ADI, and I am delighted to welcome the Maxim team who share our passion for solving our customers' most challenging technological problems,” said Vincent Roche, President, and CEO. “With more than 10,000 engineers, deepening and expanding our best-in-class technology, we are well-positioned to develop even more complete and advanced solutions for our customers. Together, we will drive a new wave of innovation in analog semiconductors while creating a healthier, safer, and more sustainable future for all. ”
Under the terms of the final agreement, Maxim's shareholders received 0.63 ADI common shares for each Maxim common share. Maxim common shares will no longer be listed on the NASDAQ.
Following the closure of the deal, ADI's board of directors will include Tunç Doluca, former president and chief executive officer of Maxim, and Mercedes Johnson, former founding chief executive of Avago Technologies. Before the deal was closed, they were on the board of directors of Maxim.
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