Sold: Analog Devices sells CPU voltage, PC thermal monitoring business to ON Semiconductor
Norwood, MA –
Analog Devices Inc. (ADI)
completed the sale of its CPU voltage regulation and PC thermal monitoring business to
ON Semiconductor Corp
. The transaction was previously announced in November 2007.
Total cash consideration of approximately $184 million paid to ADI includes the price for the acquired assets and intellectual property related to product lines, as well as amounts paid under a one-year manufacturing supply agreement with ON Semiconductor. ADI will record a one-time gain the first quarter of fiscal 2008 related to the transaction. Starting in the first quarter of fiscal 2008, ADI will account for the divested operations, including operating results pertaining to the manufacturing supply agreement, as discontinued operations.
This divestiture is consistent with ADI’s transition of its power management portfolio to high-performance products that complement the company’s portfolio of signal-processing solutions for industrial, medical and scientific instrumentation, as well as communications infrastructure and consumer electronics.