Analog Devices Completed the Acquisition of Linear Technology
10 March, 2017
The merger creates a giant analog technology company with a comprehensive suite of high-performance analog offerings, manufacturing, sales and support operations
Analog Devices announced today the completion of its acquisition of Linear Technology Corporation. Linear Technology’s shares of common stock have been delisted from the NASDAQ Global Select Market effective as of the close of trading today. The merger creates a giant analog technology company with a comprehensive suite of high-performance analog offerings, manufacturing, sales and support operations.
In July 2016, Analog Devices and Linear Technology Corporation have entered into a definitive agreement under which Analog Devices will acquire Linear Technology in a cash and stock transaction. The transaction valued Linear Technology at approximately $14.8 billion, and the combined enterprise at approximately $30 billion. Upon completion of the acquisition, Analog Devices will be a premier global analog technology company, with approximately $5 billion annual revenues.
Swanson to join ADI Board
“The combination of Analog Devices and Linear Technology creates an analog industry powerhouse,” said Vincent Roche, ADI President and Chief Executive Officer. ADI also announced that Robert H. Swanson, former Executive Chairman of Linear Technology, has been elected to the ADI Board of Directors, effective immediately after the closing of the acquisition. Swanson, a founder of Linear Technology, has served as Executive Chairman of Linear Technology since January 2005. Prior to that, he served as Chairman and Chief Executive Officer of Linear Technology since its incorporation in 1981. ADI expects Linear Technology to contribute between $160 million to $170 million in revenue to ADI’s second fiscal quarter of 2017.