Analog's offer to buy Linear for $14.8 billion was made in July 2016 and the company is expected to jump from fourth ranked to second ranked analog chip company, behind Texas Instruments.
"The combination of Analog Devices and Linear Technology creates an analog industry powerhouse," said Vincent Roche, CEO of Analog, in a statement. "Together, we are capable of solving more of our customers' biggest and most complex challenges at the intersection of the physical and digital domains. We expect that this combination will create tremendous value for our customers, our employees, and our shareholders for many years to come."
Robert Swanson former executive chairman of Linear Technology and one of its co-founders has been elected to the board of directors of ADI. Swanson has served as executive chairman of the Linear Technology board of directors since January 2005. Prior to that time, he served as chairman and CEO of Linear Technology since its formation in 1981.
As a result of the acquisition, Linear Technology's shares of common stock have been delisted from the NASDAQ.
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