Analog Devices Inc. (ADI) has entered into a definitive agreement to acquire privately-held Integrant Technologies Inc. (Integrant) of Seoul, Korea. Integrant is in the field of analog circuits designed for reconfigurable radio frequency (RF) signal processing and a supplier of low-power radio tuners that allow mobile communications, computer, and consumer devices to receive digital television (TV) and digital radio broadcasts.
Integrant company founder, Beom-Kyu (Brian) Ko., said, "The synergies between ADI and Integrant are powerful. Together we will have the technology and systems expertise to provide customers with a complete signal chain for multi-standard multimedia applications."
Under the terms of the definitive stock purchase agreement, ADI expects to pay approximately $127 million in cash at the closing in exchange for substantially all of the outstanding shares of Integrant. A portion of the consideration payable to the stockholders of Integrant will be placed into escrow to secure potential indemnification claims under the acquisition agreement and to facilitate the acquisition of the remaining shares not acquired at closing. ADI may pay up to an additional $33 million upon the achievement of certain milestones. The boards of directors of both companies have approved the acquisition, which is expected to close within approximately 60 days, following the satisfaction of regulatory requirements and other customary closing conditions. Upon closing, ADI will record a one-time charge for purchased in-process research and development expenses.
Analog DevicesIntegrant Technologies
