ADI Sells CPU Voltage And PC Thermal Monitoring Business To ON Semiconductor

Norwood, MA -- Analog Devices, Inc. (ADI) announced that it has completed the sale of its CPU voltage regulation and PC thermal monitoring business to ON Semiconductor Corporation, which was previously announced in November 2007.

The total cash consideration of approximately $184 million paid to ADI includes the purchase price for the acquired assets and intellectual property related to the product lines as well as amounts paid under a one-year manufacturing supply agreement with ON Semiconductor. ADI will record a one-time gain in the first quarter of fiscal year 2008 related to this transaction. In addition, beginning in the first quarter of fiscal year 2008 ADI will account for the divested operations, including the operating results related to the one-year manufacturing supply agreement, as discontinued operations.

The divestiture is consistent with ADI's ongoing transition of its power management portfolio to high-performance products that complement the company's market-leading portfolio of signal-processing solutions for industrial, medical and scientific instrumentation, as well as communications infrastructure and consumer electronics.

SOURCE: Analog Devices, Inc.