Analog Devices Completes Acquisition of Linear Technology
10 Março 2017 - 1:49PM
Business Wire
Analog Devices, Inc. (NASDAQ: ADI) today 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
DirectorsADI 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.
“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.
Contribution from Linear Technology to ADI’s 2nd Fiscal
Quarter of 2017ADI expects Linear Technology to contribute
between $160 million to $170 million in revenue to ADI’s second
fiscal quarter of 2017. This revenue range includes a reduction of
approximately $30 million related to a purchase accounting
adjustment for Linear’s North America distributor deferred revenue
where revenue is recognized on a sell-through basis, and represents
ADI’s current best view of Linear’s business performance through
the end of ADI’s second fiscal quarter of 2017.
ADI also expects its non-GAAP interest and other interest
expense to be approximately $60 million in the second quarter of
fiscal 2017, approximately $70 million in the third quarter of
fiscal 2017, and approximately $60 million per quarter
thereafter.
In the first full quarter after the combination, ADI expects its
weighted average diluted sharecount to be approximately 375 million
and for the Company’s non-GAAP tax rate to be approximately
15%.
With respect to the forward-looking information presented on a
non-GAAP basis, ADI is unable to provide a quantitative
reconciliation to GAAP because the items that would be included or
excluded are difficult to predict and estimate and are primarily
dependent on future events, including costs relating to the
acquisition of Linear.
About Analog DevicesAnalog Devices (NASDAQ: ADI) is the
leading global high-performance analog technology company dedicated
to solving the toughest engineering challenges. We enable our
customers to interpret the world around us by intelligently
bridging the physical and digital with unmatched technologies that
sense, measure, power, connect and interpret. Visit
http://www.analog.com.
Forward Looking StatementsThis press release contains
forward-looking statements, which address a variety of subjects
including, for example, our statements regarding the expected
benefits and synergies of the acquisition of Linear Technology
Corporation, expected financial results and growth rates of the
combined company, and expected product offerings, product
development, marketing position and technical advances resulting
from the transaction. Statements that are not historical facts,
including statements about our beliefs, plans and expectations, are
forward-looking statements. Such statements are based on our
current expectations and are subject to a number of factors and
uncertainties, which could cause actual results to differ
materially from those described in the forward-looking statements.
The following important factors and uncertainties, among others,
could cause actual results to differ materially from those
described in these forward-looking statements: any faltering in
global economic conditions or the stability of credit and financial
markets, erosion of consumer confidence and declines in customer
spending, unavailability of raw materials, services, supplies or
manufacturing capacity, changes in geographic, product or customer
mix; higher than expected or unexpected costs associated with or
relating to the transaction; the risk that expected benefits,
synergies and growth prospects of the transaction may not be
achieved in a timely manner, or at all; the risk that Linear
Technology’s business may not be successfully integrated with
Analog Devices’ following the closing; the risk that Analog Devices
and Linear Technology will be unable to retain and hire key
personnel; and the risk that disruption from the transaction may
adversely affect Linear Technology’s or Analog Devices’ business
and relationships with their customers, suppliers or employees. For
additional information about factors that could cause actual
results to differ materially from those described in the
forward-looking statements, please refer to Analog Devices’ and
Linear Technology’s filings with the Securities and Exchange
Commission (“SEC”), including the risk factors contained in Analog
Devices’ and Linear Technology’s most recent Quarterly Reports on
Form 10-Q and Annual Reports on Form 10-K. Forward-looking
statements represent management’s current expectations and are
inherently uncertain. Except as required by law, we do not
undertake any obligation to update forward-looking statements made
by us to reflect subsequent events or circumstances.
Analog Devices and the Analog Devices logo are registered
trademarks or trademarks of Analog Devices, Inc. All other
trademarks mentioned in this document are the property of their
respective owners.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170310005524/en/
Analog Devices, Inc.Mr. Ali Husain, 781-461-3282
(phone)781-461-3491 (fax)Treasurer and Director of Investor
Relationsinvestor.relations@analog.com
Analog Devices (NASDAQ:ADI)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Analog Devices (NASDAQ:ADI)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024