Chipmaker Analog Devices to buy rival Maxim for about $21 billion

Clouds are reflected in the headquarters of Analog Devices, Inc., Monday, July 13, 2020, in Norwood, Mass. Computer chip maker Analog Devices is buying Maxim Integrated in an all-stock deal that will create a company worth about $68 billion, and strengthens its position in the analog semiconductor sector. - AP

Semiconductor maker Analog Devices Inc said on Monday it would buy rival Maxim Integrated Products Inc for about $21 billion in the largest U.S. deal this year, aimed at boosting its market share in automotive and 5G chipmaking.

The deal, which is also ADI's biggest, will create a chipmaking force with a combined enterprise value of about $68 billion that will compete with larger rivals including Texas Instruments.