SUNNYVALE, Calif., July 18, 2011 (GLOBE NEWSWIRE) -- Maxim Integrated Products (Nasdaq:MXIM) today announced it has acquired SensorDynamics, a privately held semiconductor company that develops proprietary sensor and microelectromechanical (MEMS) solutions. SensorDynamics is based in Lebring, near Graz, Austria.
SensorDynamics holds numerous original patents for MEMS sensor technology. It has devoted over 800 man-years of research and development to the high-growth fields of MEMS sensors and associated low power interface and wireless connectivity solutions. Consequently, this acquisition enables Maxim to accelerate expansion in markets where it already has a strong presence including automotive and high-end consumer.
"Maxim is a recognized leader in analog integration, and this acquisition extends Maxim's integration strategy by enabling us to fuse many types of sensors with our analog technology. The strategic integration of sensors, analog functions and low power wireless connectivity will allow us to deliver end-to-end mixed-signal solutions that provide our customers with better performance, smaller form factors and lower system costs," said Tunc Doluca, Maxim's President and Chief Executive Officer. "The result will be a unique combination of technologies that will eventually enable a whole new generation of intelligent machines. We're thrilled that SensorDynamics is joining us."
In the near term, this acquisition enables SensorDynamics to focus on its strength in engineering for sensors and MEMS, while utilizing Maxim's considerable manufacturing, distribution and sales infrastructure. This will quickly make the combined company a leading competitor in the inertial sensor, wireless connectivity and sensor interface markets.
The MEMS-based sensor market is expected to grow considerably as new applications for sensors are developed. According to market research firm IHS iSuppli, the total market for MEMS-based sensors is expected to be $7.7 billion in 2011, of which SensorDynamics gyroscope inertial sensor technology addresses about $900 million. IHS iSuppli estimates this specific market will grow at a three-year compound annual growth rate (CAGR) of 14 percent from 2011 to 2014. Longer term, Maxim will address selected portions of the broader MEMS-based sensor market.
Sensors convert real-world signals to analog signals and are a critical, adjacent function to analog semiconductors. They are a natural extension of Maxim's strength in converting analog signals to digital signals and back to analog. SensorDynamics' current focus on the automotive market aligns with Maxim's goal to grow its automotive business. Maxim's ability to extend SensorDynamics' sensor technology to the high-end consumer market is well suited to Maxim's growth goals and track record of leveraging its own broad intellectual property portfolio to multiple markets.
Maxim is paying approximately $130 million plus the assumption of approximately $34 million in debt to acquire Sensor Dynamics.
Maxim has scheduled a conference call on July 18, 2011 at 8 a.m. Pacific Time to discuss the SensorDynamics acquisition. To listen via telephone, dial (866) 847-7860 (toll free) or (703) 639-1427. This call will be webcast and can be accessed at http://www.maxim-ic.com/sd
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements concerning Maxim's acquisition of SensorDynamics. These forward-looking statements are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, Maxim's belief that the acquisition enables Maxim to accelerate expansion in markets where it already has a strong presence including automotive and high-end consumer, that the strategic integration of sensors, analog functions and low power wireless connectivity will enable Maxim to deliver end-to-end mixed-signal solutions that provide its customers with better performance, smaller form factors and lower system costs, and that the acquisition will make the combined company a leading competitor in the inertial sensor, wireless connectivity and sensor interface markets; Maxim's belief that the acquisition will result in a unique combination of technologies that will eventually enable a whole new generation of intelligent machines and the expectation that the MEMS-based sensor market is expected to grow considerably as new applications for sensors are developed. These statements are based on current expectations and are subject to certain risks, uncertainties and assumptions, many of which are outside the control of Maxim. These risks and uncertainties include, but are not limited to: changes in semiconductor market conditions and demand for products in the sensor markets; technological and product development risks; the future performance of SensorDynamics as part of Maxim; the timing and success of Maxim's integration of SensorDynamics with Maxim's existing businesses, including the successful transition of personnel, product development, manufacturing and information systems; the ability to realize anticipated synergies; competition; and general economic and business conditions. For a detailed discussion of factors affecting Maxim's business generally and other factors that may influence future results, please see Maxim's filings with the U.S. Securities and Exchange Commission, including our Annual report on Form 10-K for the fiscal year ended June 26, 2010, as well as similar disclosures in subsequent SEC filings. Maxim does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Maxim Integrated Products is a publicly traded company that designs, manufactures, and sells high-performance semiconductor products. The company was founded over 25 years ago with the mission to deliver innovative analog and mixed-signal engineering solutions that add value to its customers' products. To date, it has developed over 6400 products serving the industrial, communications, consumer, and computing markets.
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Maxim reported revenue of approximately $2.0 billion for fiscal 2010. A Fortune 1000 company, Maxim is included in the Nasdaq 100, the Russell 1000, and the msci USA indices. For more information, go to www.Maxim-ic.com.
About SensorDynamics - Leading in micro and wireless sensor products
SensorDynamics is a semi-fabless semiconductor company that focuses on innovative sensor solutions for high volume applications in automotive and high-end consumer sectors. SensorDynamics develops and supplies fail-safe micro and wireless semiconductor products for automotive and high-end consumer key accounts and is certified under ISO/TS 16949. The company acts as a general contractor with in-house MEMS production and cooperates closely with leading international technology partners. With its headquarters in Lebring near Graz, Austria, SensorDynamics has subsidiaries in Italy and Germany and a world-wide sales network.
For more information on SensorDynamics and its products, please go to www.SensorDynamics.cc
SensorDynamics is a registered trademark of SensorDynamics AG
LuAnn Jenkins Walden