Subjects: TNM, ACC
Argonas Corporate Finance Advises Siemens and Other Shareholders on the Sale of Symeo GmbH, a Company specialized in Innovative RADAR Technology for Industrial & Automotive Markets, to Analog Devices
BERLIN, March 8, 2018 /PRNewswire/ --
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.
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.
About Symeo
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 Advisors, headquartered in Berlin (Germany), is a specialized, independent advisory firm that supports particularly mid-market companies and their shareholders as well as private equity firms and family offices on M&A and structured financing transactions. The team combines complementary experience in the areas M&A, financing and private equity which has been built up over many years with various roles at leading banks, advisory firms and investment firms.
Visit: http://www.argonas.de .
Contact:
Christian Berkhoff
Managing Partner
+49 (0) 30-92271339
[email protected]
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