Analog Devices Increases Focus
on Optical Market With Offer for BCO
Technologies
NORWOOD, Mass., June 30 /PRNewswire/ -- Analog Devices, Inc. (NYSE: ADI -
news), the world's fastest-growing analog and DSP IC supplier, today announced that it
will offer to acquire BCO Technologies plc in a cash-for-stock transaction valued at
approximately $150 million. The Belfast, Northern Ireland-based company is a leading
supplier of integrated circuit wafers used for fabricating micro-mechanical optical devices
for optical communications applications.
(Photo: newscom.com )
Meeting the explosive demand for faster access to the Internet and higher bandwidth for
data transmission is dependent upon the development of all-optical networks. These
networks will provide seamless data transmission by avoiding the conversion of optical
signals into electrical signals for switching and the resulting reconversion into optical form
for further transmission.
Optical switches based on micro-electrical-mechanical systems, or MEMs, technology
are perhaps the single most-critical challenge in the development of all-optical networks.
These devices, built on silicon chips using techniques derived from integrated circuit
processing, use miniature moveable mirrors to direct optical data flows toward their
intended destinations.
Jerald G. Fishman, President and CEO of Analog Devices said, ``During the past few
years Analog Devices has significantly accelerated its investments in optical network
products. Micromachine technology will become increasingly critical as networks evolve
to all-optical transmission modes. The combination of ADI's advanced micromachine
technology, coupled with our unique ability to integrate analog and mixed-signal
technology with micromachined structures, uniquely positions ADI to become an
important vendor to the optical network market. The acquisition of BCO, which is a
leader in thick-film bonded wafers and silicon-on-insulator (SOI) technology, will further
enhance our position.''
The offer, which will be structured as a United Kingdom offer to purchase the shares of
BCO, has been recommended to BCO's shareholders by the BCO Board of Directors.
Completion of the transaction is contingent upon the acceptance of the offer by holders
of a specified minimum number of BCO shares and other customary conditions. Subject
to the acceptance of the offer, ADI and BCO anticipate that the transaction will be
completed in August.
About BCO Technologies
BCO Technologies is a leading supplier of thick-film, bonded wafers. The company also
has a strong silicon-on-insulator (SOI) capability. Wafers employing these technologies
are being supplied to several leading communications companies for fabricating devices
with micro-machined mirrors aimed at total optical switching applications. BCO employs
approximately 90 people at its factory based in Belfast, Northern Ireland.
About Analog Devices
With revenues of $1.1 billion for the first half of fiscal 2000, Analog Devices is a leading
manufacturer of precision high-performance integrated circuits used in analog and digital
signal processing applications. Headquartered in Norwood, Massachusetts, the
company employs approximately 8,200 people worldwide and has manufacturing
facilities in Massachusetts, California, North Carolina, Ireland, the Philippines and
Taiwan. Analog Devices' stock is listed on the New York Stock Exchange and the
company is included in the S&P 500 Index.
SOURCE: Analog Devices, Inc. |
