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Our Bureau

Bangalore, Sept. 12 Taiwan’s MediaTek will acquire the chip assets of US-based chip design firm Analog Devices for approximately $350 million in cash.

These product lines represented approximately $230 million in revenue for Analog Devices.

With the acquisition of Othello radio and SoftFone baseband chipset product lines, as well as certain cellular handset baseband support operations, MediaTek’s wireless handset division will gain 400 experienced product development and customer support professionals.

The boards of directors of both companies have approved the transaction, which is expected to close near 2007-end.

Analog Devices will continue to invest in the wireless handset market.

“This transaction unlocks the value of Othello and SoftFone by creating the scale needed to support R&D investment,” said Mr Jerald G. Fishman, President and CEO, Analog Devices, in a release.

MediaTek is a fabless semiconductor firm that develops system-on-a-chip solutions for wireless communications, high-definition digital TV, optical storage and high-definition DVD products.

It has a sales and research subsidiary in India.

More Stories on : Mergers & Acquisitions | Hardware

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