Analog/Mixed Signal

Analog Devices to buy Maxim in a mega deal valued at $21 billion

15 July 2020

Analog Devices Inc. (ADI) will acquire Maxim Integrated Products Inc. in an all-stock transaction valued at about $21 billion.

The transaction will expand the analog semiconductor product portfolio and scale across multiple end markets. Analog said the companies will have a combined enterprise value of more than $68 billion.

“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, in a statement. “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.”

Under the terms of the agreement, two Maxim directors will join ADI’s board of directors including Maxim president and CEO Tunç Doluca.

The combination of semiconductor portfolios is expected to expand into the analog market as well as broaden ADI’s automotive and data center markets. Additionally, the move will complement ADI’s portfolio of semiconductors in the industrial, communications and digital healthcare markets. Other complementary markets will include power management with Maxim’s applications-focused products combining with ADI’s power chip market.

This transaction is just another in a series of mega acquisitions that have happened in recent years. A key to this acquisition trend happening is due to the ongoing global recession caused by the COVID-19 outbreak as well as the decline in the semiconductor industry in the past few years. One of the biggest acquisitions so far this year was Nvidia’s purchase of intelligent interconnect device and service maker Mellanox for $6.9 billion. However, many other smaller acquisitions have been happening, including Xilinx's purchase of Solarflare, Intel's purchase of FPGA maker Omnitek, Dialog’s purchase of Silicon Motion Technology and Taoglas’ acquisition of Think Wireless, an antenna maker for wireless systems inside vehicles. Marvell has also gotten in on the act with its acquisition of Avera and the sale of its Wi-Fi business to NXP most recently for $1.76 billion.

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