Analog Devices Completes Sale of Mic Unit to InvenSense

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Analog Devices (NASDAQ: ADI  ) is handing over the mic to InvenSense (NYSE: INVN  ) . The former company announced that it has closed the sale of the assets of its microphone products business to the latter. Analog Devices will pocket the sale price of $100 million, and be eligible for additional amounts over the next year if certain revenue targets are met.

The two companies announced the deal in mid-October. At the time, the buyer was quoted as saying in a press release that the unit "is expected to accelerate InvenSense's audio roadmap and complement its current MEMS System on Chip (SoC) product offerings at existing mobile, gaming and wearable device customers, while gaining entry into new markets."

InvenSense has said that it does not expect a significant impact on earnings in its fiscal year from its new unit, save for possible onetime transaction and research and development costs.

Analog Devices will book a onetime gain in its Q4 for the transaction.

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Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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Related Tickers

5/24/2016 4:00 PM
ADI $58.22 Up +1.46 +2.57%
Analog Devices, In… CAPS Rating: ****
INVN $6.04 Up +0.06 +1.00%
InvenSense CAPS Rating: *****