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ADI acquires Korean radio tuner supplier

Posted: 02 Aug 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Analog Devices? ADI? Integrant Technologies? acquisition?

Analog Devices Inc. (ADI) announced that it has completed the acquisition of privately held Integrant Technologies Inc.

Under the terms of the share purchase agreement, ADI paid approximately $127 million in cash at the closing, which occurred during the Q4 fiscal year 2006, in exchange for substantially all of the outstanding shares of Integrant. A portion of the consideration payable to the shareholders of Integrant was placed into escrow to secure potential indemnification claims under the share purchase agreement and to facilitate the acquisition of the remaining shares not acquired at closing. ADI may pay up to an additional $33 million upon satisfaction of certain conditions.

The acquisition is expected to increase ADI's revenue by approximately 1 percent of sales in each of the next few quarters. The company expects to record a one-time charge of approximately $12 million in Q4 fiscal 2006, which ends Oct. 28, 2006, for purchased in-process research and development expenses.

Located in Seoul, Korea, Integrant is a leading supplier of low-power radio tuners that allow mobile communications, computer and consumer devices to receive DTV and digital radio broadcasts.

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