NORWOOD, Mass.--(BUSINESS WIRE)--
Analog Devices, Inc. (NASDAQ: ADI) today announced the acquisition of
the Cyber Security Solutions (CSS) business of Sypris Electronics LLC.
This acquisition represents a significant leap forward in ADI's ability
to deliver secure high-performance analog solutions demanded by current
and future market needs.
The CSS business of Sypris Electronics, LLC is well-known as a leader in
secure system and software products and technology. For more than 50
years, Sypris has built a proven track record of delivering
high-assurance information security services to the world's most
demanding customers, including military and government organizations
needing to protect against sophisticated nation-state level threats and
attacks. With this transaction, ADI enhances its aerospace and defense
capabilities in the area of secure radio communications, bolsters its
portfolio of system hardware and software-based cryptographic
technologies, and adds a cybersecurity software and services business
that supports our ability to offer more comprehensive high-performance
analog solutions across multiple market segments such as Internet of
Things (IoT), industrial, automotive, and more.
"We are delighted to add the experience, expertise, and technologies of
the CSS team to the ADI family," said Dick Meaney, ADI Senior Vice
President, Industrial, Healthcare and Consumer Group. "With this
acquisition, we have accelerated our ability to offer our customers
trust ‘from the sensor to the cloud' through next-generation
cyber-physical security solutions. The competencies and offerings of the
CSS business are a great complement to our Internet of Things (IoT)
solutions, as security increasingly becomes paramount to the success of
IoT implementations."
The CSS team will remain in its current locales of Tampa, Florida and
West Lafayette, Indiana and form the core of ADI's new Secure Technology
Group (STG), to be led by John Walsh, former president of Sypris
Electronics, LLC.
"The CSS team is very proud to become part of Analog Devices," said
Walsh. "The combination of ADI and the CSS business provides the unique
opportunity to ‘change the game' in security at the cyber-physical
layer. The integration of our technologies and core competencies will
allow us to enable greater trust in the underpinnings of our more and
more connected world."
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 the CSS Business of
Sypris Electronics LLC, expected advances in our technology and product
development efforts, including in the IoT, automotive and aerospace and
defense market segments, and expected benefits and future development of
the acquired security 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 business or technologies may not be successfully
integrated with ADI's following the closing; difficulty or delay in the
design, development, production and marketing of the acquired
technologies and products; 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160818005138/en/
Analog Devices, Inc.
Linda Kincaid, 781-937-1472
linda.kincaid@analog.com
or
Porter
Novelli, Inc.
Andrew MacLellan, 617-897-8270
andrew.maclellan@porternovelli.com
Source: Analog Devices, Inc.
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