Analog Devices To Sell Microphone Product Line To InvenSense

(RTTNews) - Analog Devices, Inc. (ADI) said Monday that it has agreed to sell the assets of its microphone product line to InvenSense, Inc. (INVN).

InvenSense will acquire the assets related to analog and digital output microphones, as well as certain support operations, for $100 million in cash.

Pursuant to the agreement potential additional amounts will be payable to Analog Devices upon achievement over twelve months of certain revenue milestones by InvenSense.

The microphones were mainly used in consumer applications and are expected to represent less than 1% of ADI's total revenue in the fourth quarter of fiscal year 2013, which ends November 2.

The deal is expected to close by the end of October.