Analog Devices completes acquisition of Linear Technology
Published: 20 March 2017 - 10:00 - Amy Wallington
Analog Devices, Inc. has announced the completion of its acquisition of Linear Technology Corporation. The combination creates the premier analog technology company with the industry’s most comprehensive suite of high-performance analog offerings and integrated engineering, manufacturing, sales and support operations that will accelerate innovation and revenue growth opportunities.
“The combination of Analog Devices and Linear Technology creates an analog industry powerhouse,” said Vincent Roche, ADI president and chief executive officer. “Together, we are capable of solving more of our customers' biggest and most complex challenges at the intersection of the physical and digital domains. We expect that this combination will create tremendous value for our customers, our employees, and our shareholders for many years to come.”
Election of Robert H. Swanson to ADI board of directors
ADI also announced that Robert H. Swanson, former executive chairman of Linear Technology, has been elected to the ADI board of directors, effective as of the closing of the acquisition.
'We are very excited to welcome Bob Swanson to our board,' said Ray Stata, ADI chairman of the board. 'Bob’s decades of analog semiconductor expertise will add considerable value to ADI's board of directors.”
Mr. Swanson, a founder of Linear Technology, has served as executive chairman of the Linear Technology board of directors since January 2005. Prior to that time, he served as chairman and chief executive officer of Linear Technology since its incorporation in 1981.
As a result of the acquisition, Linear Technology’s shares of common stock have been delisted from the NASDAQ Global Select Market effective as of the close of trading today.?
Credit Suisse Securities (USA) LLC acted as ADI’s exclusive financial advisor and Wachtell, Lipton, Rosen & Katz and WilmerHale acted as ADI’s legal counsel in connection with the transaction.