Press release: Analog Devices Adds Innovative RADAR Technology for Industrial and Automotive Markets with Acquisition of Symeo GmbH
Norwood (Massachusetts/USA), March 08, 2018 - 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
About Analog Devices
Analog 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
Symeo GmbH, based in Munich, Germany, specializes in developing and manufacturing telemetry solutions with RF data transmission. Visit: http://www.symeo.com
About Siemens Technology Accelerator
Siemens 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 Finance
Argonas 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.