Foley Hoag Advises Hittite Microwave Corporation on Acquisition by Analog Devices
June 09, 2014
Foley Hoag LLP is advising Hittite Microwave Corporation, an innovative designer and manufacturer of high performance integrated circuits, modules, subsystems and instrumentation for RF, microwave and millimeter wave applications, in its acquisition by Analog Devices. The merger agreement, announced on June 9, 2014, reflects a total enterprise value for Hittite of approximately $2 billion.
Based in Chelmsford, MA, Hittite has a deep knowledge of analog, digital and mixed-signal semiconductor technology, from the device level to the design and assembly of complete subsystems. The company's applications have included cellular, optical, and satellite communications, as well as medical and scientific imaging, industrial instrumentation, aerospace and defense electronics. The acquisition of Hittite by Analog Devices is expected to accelerate the course of innovation throughout cellular and microwave communications infrastructure, automotive, industrial instrumentation, aerospace and defense.
The Boards of Directors of each company have approved the acquisition, which is expected to close near the end of ADI’s third fiscal quarter of 2014.
Foley Hoag partners Bob Sweet, Bill Kolb, Joe Basile and Alex Aber advised Hittite on the transaction, with assistance from associates Dan Clevenger, Nell Richmond and James Schneider.
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