Maxim Integrated Products, Inc.
18.07.2011 13:15
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SUNNYVALE, Calif., 2011-07-18 13:15 CEST (GLOBE NEWSWIRE) --
Maxim Integrated Products (Nasdaq:MXIM) today announced it has acquired
SensorDynamics, a privately held semiconductor company that develops
proprietary sensor and microelectromechanical (MEMS) solutions. SensorDynamics
is based in Lebring, near Graz, Austria.
SensorDynamics holds numerous original patents for MEMS sensor technology. It
has devoted over 800 man-years of research and development to the high-growth
fields of MEMS sensors and associated low power interface and wireless
connectivity solutions. Consequently, this acquisition enables Maxim to
accelerate expansion in markets where it already has a strong presence
including automotive and high-end consumer.
'Maxim is a recognized leader in analog integration, and this acquisition
extends Maxim's integration strategy by enabling us to fuse many types of
sensors with our analog technology. The strategic integration of sensors,
analog functions and low power wireless connectivity will allow us to deliver
end-to-end mixed-signal solutions that provide our customers with better
performance, smaller form factors and lower system costs,' said Tunc Doluca,
Maxim's President and Chief Executive Officer. 'The result will be a unique
combination of technologies that will eventually enable a whole new generation
of intelligent machines. We're thrilled that SensorDynamics is joining us.'
In the near term, this acquisition enables SensorDynamics to focus on its
strength in engineering for sensors and MEMS, while utilizing Maxim's
considerable manufacturing, distribution and sales infrastructure. This will
quickly make the combined company a leading competitor in the inertial sensor,
wireless connectivity and sensor interface markets.
The MEMS-based sensor market is expected to grow considerably as new
applications for sensors are developed. According to market research firm IHS
iSuppli, the total market for MEMS-based sensors is expected to be $7.7 billion
in 2011, of which SensorDynamics gyroscope inertial sensor technology addresses
about $900 million. IHS iSuppli estimates this specific market will grow at a
three-year compound annual growth rate (CAGR) of 14 percent from 2011 to 2014.
Longer term, Maxim will address selected portions of the broader MEMS-based
sensor market.
Sensors convert real-world signals to analog signals and are a critical,
adjacent function to analog semiconductors. They are a natural extension of
Maxim's strength in converting analog signals to digital signals and back to
analog. SensorDynamics' current focus on the automotive market aligns with
Maxim's goal to grow its automotive business. Maxim's ability to extend
SensorDynamics' sensor technology to the high-end consumer market is well
suited to Maxim's growth goals and track record of leveraging its own broad
intellectual property portfolio to multiple markets.
Maxim is paying approximately $130 million plus the assumption of approximately
$34 million in debt to acquire Sensor Dynamics.
Maxim has scheduled a conference call on July 18, 2011 at 8 a.m. Pacific Time
to discuss the SensorDynamics acquisition. To listen via telephone, dial (866)
847-7860 (toll free) or (703) 639-1427. This call will be webcast and can be
accessed at http://www.maxim-ic.com/sd
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements concerning Maxim's acquisition
of SensorDynamics. These forward-looking statements are within the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These
statements include, but are not limited to, Maxim's belief that the acquisition
enables Maxim to accelerate expansion in markets where it already has a strong
presence including automotive and high-end consumer, that the strategic
integration of sensors, analog functions and low power wireless connectivity
will enable Maxim to deliver end-to-end mixed-signal solutions that provide its
customers with better performance, smaller form factors and lower system costs,
and that the acquisition will make the combined company a leading competitor in
the inertial sensor, wireless connectivity and sensor interface markets;
Maxim's belief that the acquisition will result in a unique combination of
technologies that will eventually enable a whole new generation of intelligent
machines and the expectation that the MEMS-based sensor market is expected to
grow considerably as new applications for sensors are developed. These
statements are based on current expectations and are subject to certain risks,
uncertainties and assumptions, many of which are outside the control of Maxim.
These risks and uncertainties include, but are not limited to: changes in
semiconductor market conditions and demand for products in the sensor markets;
technological and product development risks; the future performance of
SensorDynamics as part of Maxim; the timing and success of Maxim's integration
of SensorDynamics with Maxim's existing businesses, including the successful
transition of personnel, product development, manufacturing and information
systems; the ability to realize anticipated synergies; competition; and general
economic and business conditions. For a detailed discussion of factors
affecting Maxim's business generally and other factors that may influence
future results, please see Maxim's filings with the U.S. Securities and
Exchange Commission, including our Annual Report on Form 10-K for the fiscal
year ended June 26, 2010, as well as similar disclosures in subsequent SEC
filings. Maxim does not undertake any obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.
About Maxim
Maxim Integrated Products is a publicly traded company that designs,
manufactures, and sells high-performance semiconductor products. The company
was founded over 25 years ago with the mission to deliver innovative analog and
mixed-signal engineering solutions that add value to its customers' products.
To date, it has developed over 6400 products serving the industrial,
communications, consumer, and computing markets.
The Maxim Integrated Products, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5753
Maxim reported revenue of approximately $2.0 billion for fiscal 2010. A Fortune
1000 company, Maxim is included in the Nasdaq 100, the Russell 1000, and the
MSCI USA indices. For more information, go to www.Maxim-ic.com.
About SensorDynamics - Leading in micro and wireless sensor products
SensorDynamics is a semi-fabless semiconductor company that focuses on
innovative sensor solutions for high volume applications in automotive and
high-end consumer sectors. SensorDynamics develops and supplies fail-safe micro
and wireless semiconductor products for automotive and high-end consumer key
accounts and is certified under ISO/TS 16949. The company acts as a general
contractor with in-house MEMS production and cooperates closely with leading
international technology partners. With its headquarters in Lebring near Graz,
Austria, SensorDynamics has subsidiaries in Italy and Germany and a world-wide
sales network.
For more information on SensorDynamics and its products, please go to
www.SensorDynamics.cc
SensorDynamics is a registered trademark of SensorDynamics AG
CONTACT: Media Contact:
LuAnn Jenkins Walden
(408) 530-6141
luann.walden@Maxim-ic.com
Financial Contact:
Paresh Maniar
(408) 470-5348
paresh.maniar@Maxim-ic.com
News Source: NASDAQ OMX
18.07.2011 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Maxim Integrated Products, Inc.
United States
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ISIN: US57772K1016
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DGAP-News: Maxim Acquires SensorDynamics, Developer and Manufacturer of Proprietary Sensor and MEMS Solutions
| Source: EQS Group AG