Analog Devices Inc. (ADI) agreed to sell its microphone product line
to InvenSense Inc. (INVN) for $100 million, as Analog aims to focus on
its high priority markets.
Analog Devices' signal-processing technology has been used in a broad
range of electronic equipment, including factory-automation systems to
smartphones and tablets. The microphone products, primarily used in
consumer applications, are expected to represent less than 1% of Analog
Devices fiscal fourth-quarter revenue, the company stated.
The impact of inertial sensing technology is increasing across
automotive, industrial, and health-care applications, and "we are
focusing our resources accordingly," said Mark Martin, vice president of
ADI's sensor products and technology group.
InvenSense expects the transaction will accelerate the company's audio
roadmap program and complement its current offerings at existing
mobile, gaming and wearable device customers, as well as provide entry
into new markets.
ADI is also eligible for certain milestone payments under the deal, which is expected to close by the end of this month.
The transaction includes approximately 30 to 40 of Analog Devices core
employees within the product line and certain support operations.
Analog Devices shares were flat at $47.27 in recent after-hours trading. InvenSense shares were down by a dime at $20
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