NORWOOD, Mass.--(BUSINESS WIRE)--Analog Devices, Inc. (NASDAQ: ADI) today announced the acquisition of the Cyber Security Solutions (CSS) business of Sypris Electronics LLC. This acquisition represents a significant leap forward in ADI’s ability to deliver secure high-performance analog solutions demanded by current and future market needs.
The CSS business of Sypris Electronics, LLC is well-known as a leader in secure system and software products and technology. For more than 50 years, Sypris has built a proven track record of delivering high-assurance information security services to the world’s most demanding customers, including military and government organizations needing to protect against sophisticated nation-state level threats and attacks. With this transaction, ADI enhances its aerospace and defense capabilities in the area of secure radio communications, bolsters its portfolio of system hardware and software-based cryptographic technologies, and adds a cybersecurity software and services business that supports our ability to offer more comprehensive high-performance analog solutions across multiple market segments such as Internet of Things (IoT), industrial, automotive, and more.
- Find more information on ADI in Aerospace and Defense: http://www.analog.com/en/applications/markets/aerospace-and-defense-pavilion-home.html
- Discover how ADI is enabling the Internet of Things: http://www.analog.com/iot
“We are delighted to add the experience, expertise, and technologies of the CSS team to the ADI family,” said Dick Meaney, ADI Senior Vice President, Industrial, Healthcare and Consumer Group. “With this acquisition, we have accelerated our ability to offer our customers trust ‘from the sensor to the cloud’ through next-generation cyber-physical security solutions. The competencies and offerings of the CSS business are a great complement to our Internet of Things (IoT) solutions, as security increasingly becomes paramount to the success of IoT implementations.”
The CSS team will remain in its current locales of Tampa, Florida and West Lafayette, Indiana and form the core of ADI’s new Secure Technology Group (STG), to be led by John Walsh, former president of Sypris Electronics, LLC.
“The CSS team is very proud to become part of Analog Devices,” said Walsh. “The combination of ADI and the CSS business provides the unique opportunity to ‘change the game’ in security at the cyber-physical layer. The integration of our technologies and core competencies will allow us to enable greater trust in the underpinnings of our more and more connected world.”
About Analog Devices
Analog Devices 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.
This 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 our acquisition of the CSS Business of Sypris Electronics LLC, expected advances in our technology and product development efforts, including in the IoT, automotive and aerospace and defense market segments, and expected benefits and future development of the acquired security 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 business or technologies may not be successfully integrated with ADI’s following the closing; difficulty or delay in the design, development, production and marketing of the acquired technologies and products; and other risk factors described in our most recent filings with the Securities and Exchange Commission. We do not undertake any obligation to update forward-looking statements made by us.
