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Analog Devices Completes Purchase of Hittite Microwave [Health & Beauty Close - Up](Health & Beauty Close - Up Via Acquire Media NewsEdge) Analog Devices said that it has finalized its acquisition of Hittite Microwave in an all-cash transaction at a purchase price of $78 per share, reflecting a total enterprise value of approximately $2 billion. "ADI's portfolio now spans the entire frequency spectrum of RF, microwave, and millimeter wave," said Vincent Roche, ADI President and CEO. "Complemented by our world class signal processing franchise, we believe our customers will benefit from more complete solutions across a breadth of applications, including industrial instrumentation, aerospace and defense electronics, communications infrastructure, and automotive safety." "We are very excited to have the Hittite team join ADI and together, we believe we can create greater value for our customers and our shareholders," said Roche. In its release, ADI said that its new RF and Microwave Group (RFMG) will be led by Rick D. Hess, former President and CEO of Hittite Microwave. RFMG combines product and technology development teams from ADI's RF and microwave group and Hittite Microwave. ADI's management will discuss its third quarter fiscal year 2014 financial results and business outlook for the combined company during its third quarter earnings conference call scheduled for Tuesday, August 26. Analog Devices is a company focusing on data conversion and signal conditioning technology. ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |