Analog Devices Adds Innovative RADAR Technology for Industrial and Automotive Markets with Acquisition of Symeo GmbH
March 08 2018 - 8:00AM
Business Wire
Analog Devices, Inc. (Nasdaq: ADI) today announced the
acquisition of Symeo GmbH, a privately held company based in
Munich, Germany that specializes in RADAR hardware and software for
emerging autonomous automotive and industrial applications. Symeo’s
innovative signal processing algorithms will enable ADI to offer
customers a RADAR platform with significant improvements in angular
accuracy and resolution.
“With this acquisition, ADI can now deliver more comprehensive
and compelling RADAR solutions to customers,” said Chris Jacobs,
Vice President of the Autonomous Transportation and Safety Business
Unit, Analog Devices. “Combining ADI’s industry-leading product
portfolio with Symeo’s system and algorithm expertise will pave the
way for higher performance RADAR solutions, enabling more accurate
sensing in autonomous systems.”
Symeo's unique RF and sensor technology enables real-time
position detection and distance measurement. The company’s
technology enables system integrators and original equipment
manufacturers (OEMs) to offer high precision RADAR solutions in
rough industrial environments, and complements ADI’s expanding
portfolio of market solutions in this space.
Symeo’s industrial high precision RADAR technology was
originally developed within Siemens AG (XETRA: SIE) and
subsequently spun-out as an independent entity in 2005 by the
Siemens Technology Accelerator GmbH (STA).
“Symeo has become a technology leader in industrial RADAR
solutions – with the completion of this transaction, the
combination with the technology platform and broad market reach of
ADI will ensure further innovations not only in the industrial
space but also in the automotive and aerospace markets,” said Dr.
Rudolf Freytag, CEO of the Siemens Technology Accelerator.
The Symeo team will join ADI’s Autonomous Transportation and
Safety (ATS) business unit and continue to be based in Munich.
Argonas Corporate Finance acted as exclusive sell-side
advisor to Siemens and the other shareholders of Symeo.
For more information about ADI Automotive Radar visit:
http://www.analog.com/en/products/application-specific/automotive/automotive-radar.html
For more information about ADI Process Control and Industrial
Automation visit:
http://www.analog.com/en/applications/markets/process-control-and-industrial-automation.html
For more information about Symeo Position Detection visit:
https://www.symeo.com/en/applications/position-detection/index.html
(ADI-WEB)
About Analog DevicesAnalog Devices (Nasdaq: ADI) designs
and manufactures semiconductor products and solutions. We enable
our customers to interpret the world around us by intelligently
bridging the physical and digital with unmatched technologies that
sense, measure and connect. Visit http://www.analog.com.
About SymeoSymeo GmbH, based in Munich, Germany,
specializes in developing and manufacturing telemetry solutions
with RF data transmission. Visit: http://www.symeo.com.
About Siemens Technology AcceleratorSiemens Technology
Accelerator is a wholly owned subsidiary of Siemens AG and turns
innovative Siemens technologies and commercial opportunities beyond
Siemens’ strategic focus into successful businesses. These
businesses are founded as venture capital-financed start-ups or
created through sales and licensing deals with existing companies.
Visit: http://www.sta.siemens.com.
About Argonas Corporate FinanceArgonas Corporate Finance
is an independent advisory firm based in Berlin, Germany offering
integrated advice on M&A and structured financing transactions.
Visit: http://www.argonas.de.
This press release may be deemed to contain forward-looking
statements intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements include, among other things,
our statements regarding expected benefits of the acquisition of
Symeo GmbH by Analog Devices, expected advances in our RADAR
technology, expected product offerings and development efforts,
including in the autonomous automotive and industrial markets, and
expected benefits and future development of the acquired products,
technology and solutions, that are based on our current
expectations, beliefs, assumptions, estimates, forecasts, and
projections about the industry and markets in which Analog Devices
operates. The statements contained in this release are not
guarantees of future performance, are inherently uncertain, involve
certain risks, uncertainties, and assumptions that are difficult to
predict. Therefore, actual outcomes and results may differ
materially from what is expressed in such forward-looking
statements, and such statements should not be relied upon as
representing Analog Devices’ expectations or beliefs as of any date
subsequent to the date of this press release. Important factors
that could cause actual results to differ materially from the
results described, implied or projected in any forward-looking
statements include: higher than expected or unexpected costs
associated with or relating to the transaction; the expected
benefits, synergies and prospects of the transaction may not be
achieved in a timely manner, or at all; the acquired products,
technology and solutions may not be successfully integrated with
ADI’s following the closing; difficulty or delay in the design,
development, production and marketing of the acquired products,
technology and solutions; and other risk factors described in our
most recent filings with the Securities and Exchange Commission.
Analog Devices does not undertake any obligation to update these
forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20180308005100/en/
Analog Devices, Inc.Karen Marinella Hall, +1
781-461-3549Director of
Communicationskaren.marinellahall@analog.com
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