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Skyworks acquires Analog Tech for $6.13 per share

Posted: 30 May 2011 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? analog? semiconductor?

Skyworks Solutions Inc. has signed a definitive agreement to purchase Advanced Analogic Technologies Inc. This acquisition expands Skyworks' portfolio with highly complementary analog semiconductor products including battery chargers, DC/DC converters, voltage regulators, and LED drivers.

"Skyworks' acquisition of Advanced Analogic Technologies will enable us to further capitalize on our strong smart phone, tablet, set-top box and infrastructure positions with an expanded and differentiated product portfolio while accelerating our entry into new vertical markets," says David J. Aldrich, president and chief executive officer of Skyworks.

The analog power management market is expected to grow to $12.1 billion in 2014, up from $9.9 billion in 2010 according to Gartner market research.

He adds that, "At a higher level, analog power management semiconductors represent a strategic growth market for Skyworks as our customers increasingly demand both ubiquitous wireless connectivity and power optimization across seemingly every kind of electronic platform. With Advanced Analogic Technologies, Skyworks will be well positioned to address these massive twin market opportunities leveraging our broad customer relationships, innovative product portfolios and increasing operational scale."

"The Advanced Analogic Technologies team is excited to be joining forces with Skyworks given their leadership market positions coupled with scale advantages," says Richard K. Williams, president, chief executive officer and chief technical officer of Advanced Analogic Technologies.

Williams also claims that, "Both companies share a common vision of the enormity and growth potential of the analog semiconductor market. Together, we can better address our customers' demand for highly integrated power management solutions across a broader range of markets and applications. We believe this transaction will benefit our customers, employees and, most importantly, our shareholders."

Skyworks has entered into a definitive agreement to acquire Advanced Analogic The transaction is subject to approval by Advanced Analogic Technologies' shareholders. The transaction is also subject to other customary closing conditions, including the receipt of applicable regulatory approvals. Excluding any non-recurring acquisition related charges and amortization of acquired intangibles, Skyworks expects the acquisition to be immediately accretive to non-GAAP earnings post-closing and will finalize estimates of the transaction's financial impact, as well as the accounting for the transaction, upon deal close.





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