Norwood, MA (06/19/2006) -
Analog Devices, Inc. (NYSE: ADI) announced today that on June 16, 2006 all closing conditions were met with respect to its agreement to acquire certain intellectual property assets of TTPCom Limited, and that the transaction closed on June 16, 2006. Under the terms of the agreement, TTPCom transferred to Analog Devices intellectual property, engineering resources, and related assets associated with the support and customization of TTPCom’s GSM/GPRS/EDGE modem software for use on Analog Devices’ existing and future generations of SoftFone® baseband processors. The agreement also provides to Analog Devices development rights for AJAR, TTPCom’s advanced applications platform. As a result of this transaction, Analog Devices becomes the single point of contact for both hardware and software support for its new and existing wireless handset customers, thus improving Analog Devices’ abilities to service individual customer’s needs. The IP transfer is valued at approximately $23 million.
Safe harbor statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements, which address a variety of subjects including, for example, the expected benefits of the transaction, and ADI’s expected product development and customer support plans following the transaction. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially. The expected benefits of the transaction may not be achieved in a timely manner, or at all, thus causing actual results to differ materially from those described in these forward looking statements. For detailed information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to ADI’s filings with the Securities and Exchange Commission, including ADI’s most recent Quarterly Report on Form 10-Q. Forward-looking statements represent management’s current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.
About Analog Devices
Innovation, performance, and excellence are the cultural pillars on which Analog Devices has built one of the longest standing, highest growth companies within the technology sector. Acknowledged industry-wide as the world leader in data conversion and signal conditioning technology, Analog Devices serves over 60,000 customers, representing virtually all types of electronic equipment. Celebrating 40 years as a leading global manufacturer of high-performance integrated circuits used in analog and digital signal processing applications, Analog Devices is headquartered in Norwood, Massachusetts, with design and manufacturing facilities throughout the world. Analog Devices' common stock is listed on the New York Stock Exchange under the ticker “ADI” and is included in the S&P 500 Index.
SoftFone is a registered trademark of Analog Devices Inc. and AJAR is a trademark of TTPCom. All other trademarks included herein are the property of their respective owners.