Dialog has agreed to buy Adesto, a provider of application-specific semiconductors and embedded systems for the Industrial IoT, for USD500 million.
According to Jalal Bagherli, CEO of Dialog, the acquisition will enhance Dialog’s position in the Industrial IoT market. “Adesto’s established strength in connectivity solutions and highly optimised products for building and industrial automation perfectly complements and adds scale to our Industrial IoT portfolio from the recently acquired Creative Chips,” he said.
Adesto, which is based in Santa Clara, California, employs 270 people and made approximately USD118 million in 2019. It has a portfolio of solutions for smart building automation in the industrial, consumer, medical and communications markets. The acquisition will:
- create a complementary product portfolio that addresses growing segments of the industrial market and enables cross-selling to more than 5,000 new customers.
- enable full system solutions for wearables, hearables and other IoT applications
- unlocks future growth in the automotive market for Adesto’s specialty memory products that also address the fast-growing AI sector
- adds engineering and design scale to Dialog’s existing custom IC business.
Dialog is a USD1.4 billion semiconductor company based in Reading (UK) that employs approximately 2,000 people and is listed on the Frankfurt stock exchange.