Sept 9 (Reuters) - Analog Devices will acquire privately held Alif Semiconductor for $1.35 billion in cash, the companies said on Wednesday, expanding ADI's on-device capabilities as AI applications increasingly move into physical systems.
The acquisition would combine ADI's sensing, signal-processing and power-management technologies with Alif's AI processors, allowing customers to build systems that can analyze and respond in real time.
Here are some more details:
• Pleasanton, California-basedAlif develops low-power processors that combine AI computing, data from sensors, connectivity and security functions for consumer and industrial applications.
• Under the agreement, analog chipmaker ADI will pay Alif $1.35 billion upfront and could make additional contingent payments of up to $200 million.
• Alif's chips are already shipping and have secured customers in the consumer and industrial sectors.
• PJT Partners and Qatalyst Partners are financially advising ADI and Alif on the deal, respectively.
• Last month, Wilmington, Massachusetts-based ADI forecast fourth-quarter revenue and profitabove Wall Street estimates, after reporting a 40% rise in its third-quarter revenue.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Shreya Biswas)
