*AV*-RUMOR-Not any more
Tuesday March 24, 5:03 pm Eastern Time
Analog to sell ASIC technology to Adaptec
NORWOOD, Mass., March 24 (Reuters) - Analog Devices Inc., which makes circuits for analog and digital signal processing, is selling its read channel ASIC technology to Adaptec Inc.(ADPT - news) for an initial $34 million, the companies said in a joint statement Tuesday.
Analog will receive subsequent payments totaling $6 million for research and development services, and up to $20 million in royalties based on Adaptec sales of products incorporating the acquired technology.
''Acquisition of (analog's) top-quality, mixed-signal, read channel
technology will sustain Adaptec's leadership position as the industry
moves to integrate more ASICs yielding smaller, higher performance
storage devices,'' said Adaptec's chief executive, Grant Saviers, the statement.
Analog's chief executive, Jerald Fishman, added the sale ''fits in with our strategic decision to concentrate on other areas of our business, specifically analog ICs and DSP products.''
Adaptec will account for the acquisition as a purchase, which means it will have to write off its goodwill, or intangible assets, over time.
Hmm!!!! I wonder if this is the luck of the Irish<GGG>.
Andrew |
