Analog Devices Buys Hittite Microwave: A Clever Move

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2Q 2014 | IN-1019412


An Outright Purchase


On April 9, 2014, it was announced that Analog Devices agreed to buy Hittite Microwave for US$2.45 billion. Most of this is in cash with some short-term financing as well. ADI will pay US$78 per share to get Hittite. The Board of Directors of each company has approved the transaction and the sale is expected to close toward the end of ADI’s third fiscal quarter.

How Things Fit Together


From a product line standpoint each company’s portfolio does not appear to cross paths a great deal. ADI’s portfolio includes all types of DSP related semiconductors, low-power amplifiers, A/V products, power management devices, data converters, RF/IF ICs, and switches/multiplexers.

Hittite makes RFICs, MMICs, some digital ICs, and sem...

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