Analog Devices, Inc. (NASDAQ: ADI) and Maxim Integrated Products, Inc. (NASDAQ: MXIM) announced Thursday that the shareholders of both companies agreed on their respective proposals relating to the pending combination of ADI and Maxim.
Analog Devices is a high-performance analog technology company dedicated to solving engineering challenges. And Maxim Integrated develops innovative analog and mixed-signal products and technologies to make systems smaller and smarter, with enhanced security and increased energy efficiency.
The two companies agreed that the combination will strengthen ADI as an analog semiconductor leader with increased breadth and scale across multiple attractive end markets.
“We are pleased with the overwhelming support from our shareholders for this exciting combination. Together with Maxim, we will enhance our domain expertise and breadth of engineering capabilities to develop more complete solutions to solve customers’ most complex problems,” said Vincent Roche, President and CEO of Analog Devices. “We look forward to joining forces with Maxim to drive the next wave of semiconductor growth and deliver significant value to all our stakeholders.”
“We appreciate the strong support of our shareholders for Maxim’s combination with ADI. Together, we will enable the industry’s highest performance analog and mixed-signal solutions through our complementary product portfolios,” said Tunc Doluca, President and CEO of Maxim.
The completion of the transaction remains subject to the satisfaction of other customary closing conditions, including receipt of certain non-U.S. regulatory approvals. The companies continue to expect that the transaction will be completed in the summer of 2021.