Analog Devices, Inc. announced the completion of its previously announced acquisition of Maxim Integrated Products, Inc.
August 27, 2021. By News Bureau
Analog Devices, Inc. announced the completion of its previously announced acquisition of Maxim Integrated Products, Inc. (NASDAQ: MXIM). The combination further strengthens ADI’s position as a high-performance analog semiconductor company with trailing twelve-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. “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. 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. Mr. Doluca and Ms. Johnson served on Maxim’s Board of Directors until the closing of the transaction.