Analog Devices to buy Alif Semiconductor for $1.35 billion

Sept 9 : 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-based Alif 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 profit above Wall Street estimates, after reporting a 40 per cent rise in its third-quarter revenue.