ADI Sells Microphone Assets to InvenSense

NORWOOD, MA /BUSINESS WIRE/ -- Analog Devices Inc. (ADI) announced that it has completed the previously announced sale of the assets of its microphone product line to InvenSense Inc. The total cash consideration of $100 million paid to ADI includes the purchase price for the acquired assets related to analog and digital output microphones, as well as certain support operations. ADI will record a one-time gain in the fourth quarter of fiscal year 2013 related to this transaction.

The divestiture allows ADI to further focus on high-performance inertial sensors to serve the high-growth opportunities in automotive, industrial, and healthcare applications.

Additional amounts will be payable to ADI over the next twelve months upon the achievement of certain revenue milestones by InvenSense based on microphone sales.

About Analog Devices
Innovation, performance, and excellence are the cultural pillars on which Analog Devices Inc. (ADI) has built one of the longest standing, highest growth companies within the technology sector. Acknowledged industrywide as a world leader in data conversion and signal conditioning technology, Analog Devices serves over 60,000 customers, representing virtually all types of electronic equipment. Analog Devices is headquartered in Norwood, MA, with design and manufacturing facilities throughout the world.