Smartphone chip maker Analog Devices (ADI) has bought Hittite Microwave for $2bn in a bid to increase its hold on radio frequency communications and the Internet of Things.
The deal represents a meeting of minds and goals, according to the firms, and sees Analog Devices placing a decent value on the smaller radio frequency (RF) and microwaves outfit.
“Hittite’s strength in RF, microwave, and millimetre wave technology complements ADI’s RF and signal conversion expertise,” said Vincent Roche, Analog Device’s president and CEO.
“Our combined capabilities will enable us to bring more complete solutions to our customers and address more of the industrial, communications infrastructure, and automotive markets.”
The acquisition has board approval on both sides of the deal. “We are delighted to join forces with ADI, a premier company that shares Hittite’s passion for solving complex challenges for customers,” said Rick D Hess, president and CEO at Hittite.
“I look forward to joining Analog Devices and I am confident our combined efforts will accelerate the course of innovation throughout cellular and microwave communications infrastructure, automotive, industrial instrumentation, aerospace and defense.”
The deal is expected to close in the latter half of this year.
Added Roche, “We welcome the very talented Hittite team, as we together leverage our strong product portfolios and customer relationships to create greater value for all our stakeholders.”
Hittite claims proprietary IP on its circuit designs and the “breadth and diversity of our product offerings”. It says that it has over 1,000 patents in the area.
9 June 2014 | 2:59 pm – Source: v3.co.uk