\n\tAnalog Devices Inc., Norwood, Mass., and Linear Technology Corp., Milpitas, Calif., announce that they have entered into a definitive agreement under which Analog Devices will acquire Linear Technology in a cash and stock transaction that values the combined enterprise at approximately $30 billion.<\/p>\n
\n\t“The combination of Analog Devices and Linear Technology brings together two of the strongest business and technology franchises in the semiconductor industry,” said Vincent Roche, President and Chief Executive Officer of Analog Devices. “Our shared focus on engineering excellence and our highly complementary portfolios of industry-leading products will enable us to solve our customers’ biggest and most complex challenges at the intersection of the physical and digital worlds. We are creating an unparalleled innovation and support partner for our industrial, automotive, and communications infrastructure customers.”<\/p>\n
\n\tAccording to Bob Swanson, Executive Chairman and Co-founder of Linear Technology, “For 35 years, Linear Technology has had great success by growing its business organically. However, this combination of Linear Technology and Analog Devices has the potential to create a company in which one plus one truly exceeds two. As a result, the Linear Technology Board concluded that this is a compelling transaction that delivers substantial value to our shareholders, and the opportunity for additional upside through stock in the combined company. Together, Linear Technology and Analog Devices will advance the technology and deliver innovative analog solutions to our customers worldwide.”<\/p>\n
\n\tFollowing the transaction close, Mr. Roche, President and CEO of Analog Devices, will continue to serve as President and CEO of the combined company. David Zinsner, SVP and CFO of Analog Devices, will continue to serve as SVP and CFO of the combined company. Analog Devices and Linear Technology anticipate a combined company leadership team with strong representation from both companies across all functions.<\/p>\n
\n\tThe Linear Technology brand will continue to serve as the brand for Analog Devices power management offerings. The combined company will use the name Analog Devices Inc. and continue to trade on the NASDAQ under the symbol ADI.<\/p>\n