NORWOOD, Mass.--(BUSINESS WIRE)--
Devices, Inc. (Nasdaq: ADI)
today announced the acquisition of Symeo
GmbH, a privately held company based in Munich, Germany that specializes
in RADAR hardware and software for emerging autonomous automotive and
industrial applications. Symeo's innovative signal processing algorithms
will enable ADI to offer customers a RADAR platform with significant
improvements in angular accuracy and resolution.
"With this acquisition, ADI can now deliver more comprehensive and
compelling RADAR solutions to customers," said Chris Jacobs, Vice
President of the Autonomous Transportation and Safety Business Unit,
Analog Devices. "Combining ADI's industry-leading product portfolio with
Symeo's system and algorithm expertise will pave the way for higher
performance RADAR solutions, enabling more accurate sensing in
Symeo's unique RF and sensor technology enables real-time position
detection and distance measurement. The company's technology enables
system integrators and original equipment manufacturers (OEMs) to offer
high precision RADAR solutions in rough industrial environments, and
complements ADI's expanding portfolio of market solutions in this space.
Symeo's industrial high precision RADAR technology was originally
developed within Siemens AG (XETRA: SIE) and subsequently spun-out as an
independent entity in 2005 by the Siemens Technology Accelerator GmbH
"Symeo has become a technology leader in industrial RADAR solutions -
with the completion of this transaction, the combination with the
technology platform and broad market reach of ADI will ensure further
innovations not only in the industrial space but also in the automotive
and aerospace markets," said Dr. Rudolf Freytag, CEO of the Siemens
The Symeo team will join ADI's Autonomous Transportation and Safety
(ATS) business unit and continue to be based in Munich.
Argonas Corporate Finance acted as exclusive sell-side advisor to
Siemens and the other shareholders of Symeo.
For more information about ADI Automotive Radar visit: http://www.analog.com/en/products/application-specific/automotive/automotive-radar.html
For more information about ADI Process Control and Industrial Automation
For more information about Symeo Position Detection visit: https://www.symeo.com/en/applications/position-detection/index.html
About Analog Devices
Analog Devices (Nasdaq: ADI) 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.
Symeo GmbH, based in Munich, Germany,
specializes in developing and manufacturing telemetry solutions with RF
data transmission. Visit: http://www.symeo.com.
About Siemens Technology Accelerator
Accelerator is a wholly owned subsidiary of Siemens AG and turns
innovative Siemens technologies and commercial opportunities beyond
Siemens' strategic focus into successful businesses. These businesses
are founded as venture capital-financed start-ups or created through
sales and licensing deals with existing companies. Visit: http://www.sta.siemens.com.
About Argonas Corporate Finance
Argonas Corporate Finance is
an independent advisory firm based in Berlin, Germany offering
integrated advice on M&A and structured financing transactions. Visit: http://www.argonas.de.
This press 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 the acquisition of Symeo GmbH
by Analog Devices, expected advances in our RADAR technology, expected
product offerings and development efforts, including in the autonomous
automotive and industrial markets, 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. Analog Devices does not
undertake any obligation to update these forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180308005100/en/
Analog Devices, Inc.
Karen Marinella Hall, +1 781-461-3549
Source: Analog Devices, Inc.
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