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ADI to Acquire Linear Tech for $14.8 Billion

7/26/2016 05:22 PM EDT
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ADI_Defector
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Re: TI will gobble up more companies plus they suck!!!!
ADI_Defector   4/23/2017 8:17:44 PM
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Your post regarding TI sounds exactly what it is/was like at ADI.  Self-promoting, credit-stealing boozer/schmoozers get promotions while honest hard-working engineers never get promoted, rarely get raises, and often get the axe in their neary yearly "reorgs."  I've never seen such chaos and churn in an organization.  It seemed as if there was always some kind of change going on.  I had my fill and booked it after many years, before the axe had a chance to fall on me.

docdivakar
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Re: TI to acquire Maxim?
docdivakar   8/1/2016 2:33:45 PM
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Hi Dylan, MXIM itself has been acquiring companies in the recent years. The Scintera acquisition was thru investment and then buyout. Of note prior to that was Volterra, a power management devices company in the SF Bay area.

The problem I see with a potential TI and MXIM merger/buyout is that it adds to already duplicated power management portfolio (from National Semi).

MP Divakar

 

docdivakar
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Re: ADI Website
docdivakar   8/1/2016 2:23:40 PM
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@steve_c: the responsive web page layout has its quirks... for the most part it works well. ADI' site seems quite similar to many template-based page layouts (Wordpress / Joomla / etc.). Given the company size and the clientele it serves, it would be worthwhile to make the layout more content-centric than the 'coolness' based one!

MP Divakar

Steve_C
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ADI Website
Steve_C   7/27/2016 4:32:11 PM
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Hopefully the LT products won't be migrated over to the ADI website, which has been horrible ever since they changed it to work better for mobile devices.

DMac
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Re: TI to acquire Maxim?
DMac   7/27/2016 4:09:42 PM
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I haven't seen the note, but apparently Wall Street analyst Tim Arcuri of Cowen & Co. is also in favor of TI buying Maxim. There are some articles on line saying he "lays out a case" for a TI acquisition of Maxim.

geekmaster
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Re: TI to acquire Maxim?
geekmaster   7/27/2016 2:13:27 PM
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So, Maxim for sale is still on the table?!

rick merritt
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Re: TI to acquire Maxim?
rick merritt   7/27/2016 2:06:35 PM
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Well, Maybe you were right, Martin. I see this in a research report from Deutsche Bank analyst Ross Seymore:

"For the sector as a whole, we believe today's announcement will also re-catalyze semi sector consolidation discussions (especially within Analog), with MXIM likely garnering most investor attention."

Seymore also notes the steep price as the downside:

"While this combination creates a clear High-Performance Analog (HPA) leader and is nicely accretive, it comes at a steep price: at close, ADI will go from ~$7/share in net cash to $22/share in net debt, with its leverage ratio rising to ~3.8x. We are confident in the co's ability to pay down this debt in a timely fashion (~$1b/year), but we note that such high
leverage typically leads to a lower valuation (P/E)."

 

Doctor_Who
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Re: TI to acquire Maxim?
Doctor_Who   7/27/2016 1:48:20 PM
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What would be the point in buying Maxim?? Ti's portfolio already has many of the product that Maxim makes?  Plus, TI got out of the wireless business and lost design wins for tablets.  They used to brag about Divinci and OMAP processor but that hype didn't produce much money.

I think they just want Maxim's IP and will can most of them.  Maxim turned down ADI and TI's bids.

Now, LT's hot swap line is very tempting as TI has very little market share there.  LT's power management solutions probably rival TI's but really for $15B does this make any sense for ADI?  That is one heck of a long term ROI.

I sometimes wonder if the execs that make these decisions graduated from high school.

Doctor_Who
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TI will gobble up more companies plus they suck!!!!
Doctor_Who   7/27/2016 1:39:36 PM
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I worked at TI for 13 years and after they purchased Unitrode it was all downhill from there.  Their constant re-orgs were disruptive, and we never knew who was going to get the axe.  I did have a sense of pride and I know I contributed immensly to their growth but after all the extra Saturdays and Sundays and nothing I did was ever good enough.  I have a BS degree and 25 years in the electronics industry yet they seem to value younger people who I had to sometimes train.

TI is a liberal, greedy company and I won't purchase any of their products.  TI sucks!!!!  And yes I hope some exec from there reads this post and I welcome their response.

I was an excellent employee yet they systematically forced me to retire from there.  A practice they are well versed in as I have witnessed them do it to others.  Meanwhile, the buddies of the bosses who are not as skilled as myself are still there collecting the benjamins.

They bought so many companies I lost track.  Whenever they buy a company, know that a ton of employees will get the boot and TI's response is "It was a tough decision".  All the while the top execs make in excess of $10M annually!!!  Save the useless words as they are meaningless!!

Mind you, if the CEO took a 1% paycut, imagine how many employees they could have kept.

Analog Devices isn't much better as they didn't even give me a chance there.  Their loss.  ADI is literally throwing as much money as the company may be worth to acquire LT.  I feel very sorry for my friends at LT as that is a place where they don't micromanage.  I believe of the people they keep from LT, they would want to run, not walk to a better company like IR.

So, the moral of this post is it is not what you know, it is who you know!

Now, I sure that TI will somehow best ADI and LT merger.  After all, the CEO and VP need the extra money to purchase another mansion or two.

Lastly, all publicly traded companies' real bosses are the billionaire board of directors.  Make no mistake, they run the show.

And we all sit back and wonder why isn't anyone loyal to corporate america anymore?? Hmmmm.

MeasurementBlues
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Speaking of LT
MeasurementBlues   7/27/2016 1:02:17 PM
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Jim Williams wrote two quizzes that appeared in EDN in late 1985 and ealy 1986. We'll be running select questions from those quizzes starting August 5.

As Williams wrote "leave your Karnaugh maps at home, this is real electronics."

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