Monday, October 14, 2013 6:09 pm
Analog Devices selling microphone unit for $100M
The Associated Press
The microphone division represents less than one percent of the Norwood, Mass., chipmaker's expected revenue for the quarter ending on Nov. 2, it said Monday.
InvenSense, which makes motion tracking technology for consumer electronic devices, such as smartphones and game controllers, said the deal expands its audio business and complements some of its products for mobile, gaming and wearable device customers.
The San Jose, Calif., company said that other than one-time costs, the transaction is not expected to significantly affect its results for the fiscal year ending in March. It expects the acquisition to add to its earnings in subsequent years.
The board of directors of each company has approved the deal, which is expected to close this month.
Shares of InvenSense fell 22 cents to close at $20.10 Monday. Analog Device shares added 29 cents to close at $47.27 but fell 9 cents after hours to $47.18.