30 July 2014

Analog Devices completes acquisition of Hittite

Analog Devices Inc (ADI) of Norwood, MA, USA (which provides semiconductors for signal processing applications) last week completed its acquisition of Hittite Microwave Corp of Chelmsford, MA, USA (which designs and manufactures analog, digital and mixed-signal RF, microwave and millimeter-wave ICs, modules and subsystems as well as instrumentation) in an all-cash transaction at a purchase price of $78 per share (reflecting a total enterprise value of about $2bn).

“ADI’s portfolio now spans the entire frequency spectrum of RF, microwave and millimeter wave,” says president & CEO Vincent Roche. “Complemented by our world-class signal processing franchise, we believe our customers will benefit from more complete solutions across a breadth of applications, including industrial instrumentation, aerospace & defense electronics, communications infrastructure, and automotive safety,” he adds.

ADI also announced that its new RF and Microwave Group (RFMG) will be led by Hittite’s former president & CEO Rick D. Hess. RFMG combines product and technology development teams from ADI’s RF and microwave group and Hittite.

As a result of the acquisition, Hittite’s shares of common stock have been delisted from the NASDAQ Global Select Market.

See related items:

Analog Devices commences tender offer for Hittite shares

Analog Devices to buy Hittite

Tags: Hittite Analog Devices

Visit: www.hittite.com

Visit: www.analog.com