Analog Devices to buy rival Maxim Integrated, form $68B chipmaker

Chipmaker Analog Devices Inc. has agreed to buy rival Maxim Integrated Products Inc. in an all-stock deal.

The transaction, which forms a $68 billion chipmaker, pays Maxim shareholders 0.63 shares of Analog stock for each Maxim share they own. Analog shareholders will own about 69 percent of the combined company while Maxim shareholders will own approximately 31 percent.

"Maxim is a respected signal processing and power management franchise with a proven technology portfolio and impressive history of empowering design innovation,” Analog CEO Vincent Roche said in a statement. “Together, we are well-positioned to deliver the next wave of semiconductor growth, while engineering a healthier, safer and more sustainable future for all.”

The deal is expected to close in the summer of 2021.

This story is developing. Check back for updates.

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