Analog Devices, Inc.
Oct 27, 2016
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Analog Devices Acquires Innovasic

Adds Deterministic Ethernet Technology and Expertise for Robust, Real-Time Connectivity in Highly-Synchronized Industrial Automation Networks and Industrial IoT

NORWOOD, Mass.--(BUSINESS WIRE)-- Analog Devices, Inc. (NASDAQ: ADI) today announced the acquisition of Innovasic Inc., a leading provider of Deterministic Ethernet semiconductor and software solutions. The acquisition adds a suite of multiprotocol Industrial Ethernet solutions and key enabling technologies to ADI's Smart Automation Solutions portfolio for industrial automation and Industrial Internet of Things (IoT).

With the industrial automation market already transitioning from serial fieldbus to Ethernet connectivity, and with the simultaneous push toward a ubiquitous Industrial IoT, there is a clear need for highly reliable, real-time Ethernet connectivity for sensitive industrial automation applications. The acquisition of Innovasic will give ADI customers immediate access to a set of innovative solutions for today's Industrial Ethernet applications while also creating a best-in-class roadmap for future connectivity needs like Industrial IoT. These solutions will complement ADI's existing high-performance Industrial Automation solutions, including Software Configurable IO, Field Instruments, and efficient servo drives.

"In environments such as automotive manufacturing, where teams of robots are working in tandem in harsh and noisy conditions, our automation customers demand robust, synchronized, network technology," said Kevin Carlin, General Manager of ADI's Automation Business Unit. "These customers also strive to achieve the efficiency and cost improvements promised by wider deployment of Ethernet with the upcoming Industrial IoT. The IEEE has recognized that new standards will be required to enable Ethernet to meet the determinism demands for these emerging applications and is developing the new Time Sensitive Networks (TSN) standards. Innovasic technology not only addresses today's Industrial Ethernet, but has also been demonstrated to address some of the early requirements of these new IEEE TSN standards. With this acquisition, ADI is now able to offer its customers a path forward from the sensor to the connected future of Industrial IoT."

The Innovasic team will join ADI's Industrial Automation Business Unit and operate as a key technology group, developing the company's Deterministic Ethernet technology solutions and continuing to supply industrial customers with its portfolio of long life-cycle semiconductors. The team will be led by Jordon Woods, Innovasic's co-founder and COO, and continue to be based in Albuquerque, New Mexico.

"We are excited to become part of Analog Devices and its ‘Smart Automation' solution set," said Woods. "Innovasic and ADI have both pursued solutions to customers' most challenging technical problems while committing to maintain long product life cycles to meet the unique requirements of the industrial market. Together, we will be able to effectively and efficiently solve the communications needs of customers serving the most demanding industrial automation environments on the planet."

About Analog Devices
Analog Devices designs and manufactures semiconductor products and solutions. We enable our customers to interpret the world around us by intelligently bridging the physical and digital with unmatched technologies that sense, measure and connect. Visit http://www.analog.com.

This release may be deemed to contain forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, our statements regarding expected benefits of our acquisition of Innovasic, expected advances in our technology and product development efforts, including in the Industrial IoT and industrial automation market segments, and expected benefits and future development of the acquired products, technology and solutions, that are based on our current expectations, beliefs, assumptions, estimates, forecasts, and projections about the industry and markets in which Analog Devices operates. The statements contained in this release are not guarantees of future performance, are inherently uncertain, involve certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements, and such statements should not be relied upon as representing Analog Devices' expectations or beliefs as of any date subsequent to the date of this press release. Important factors that could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements include: higher than expected or unexpected costs associated with or relating to the transaction; the expected benefits, synergies and prospects of the transaction may not be achieved in a timely manner, or at all; the acquired products, technology and solutions may not be successfully integrated with ADI's following the closing; difficulty or delay in the design, development, production and marketing of the acquired products, technology and solutions; and other risk factors described in our most recent filings with the Securities and Exchange Commission. We do not undertake any obligation to update forward-looking statements made by us.

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Analog Devices, Inc.
Linda Kincaid, 781-937-1472
linda.kincaid@analog.com
or
Porter Novelli
Andrew MacLellan, 617-897-8270
andrew.maclellan@porternovelli.com

Source: Analog Devices, Inc.

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