Analog swoops for Maxim to create $68bn chipmaker
ANALOG Devices has snapped up rival semiconductor company Maxim Integrated Products to create a $68bn (£54bn) company in one of the largest takeovers of the year.
The deal will allow Analog to grow its chip-making capabilities for cars and mobile phones.
Analog, which specialises in making sensors and signal processing chips, is reportedly paying $20bn for Maxim.
The takeover has been approved by both companies’ boards and is expected to close next summer.
Vincent Roche, president and chief executive of Analog, said: “Maxim is a respected signal processing and power management franchise with a proven technology portfolio and impressive history of empowering design innovation. Together, we are well-positioned to deliver the next wave of semiconductor growth.”
The deal follows a relatively solid few months for chipmakers, after businesses were forced to shift all their operations online, buying more laptops and phones for staff amid lockdowns.