LAWFUEL- The Law Firm Newswire – Davis Polk & Wardwell is advising MediaTek, Inc. on its acquisition of the assets related to the Analog Devices, Inc. Othello® radio and SoftFone® baseband chipset product lines, as well as certain cellular handset baseband support operations. Based in Taiwan, MediaTek is a leading fabless semiconductor company for wireless communications and digital media solutions. Analog Devices is a Massachusetts-based leader in data conversion and signal conditioning technology.
Under the terms of the acquisition, MediaTek will acquire the operations for approximately $350 million in cash. The boards of directors of both companies have approved the transaction, which is expected to close near the end of 2007, following the satisfaction of regulatory requirements and other customary closing conditions.
The Davis Polk corporate team includes partner Alan F. Denenberg and associates Sam Kelso and Matthew E. King, all of the Menlo Park office. Partner Rachel D. Kleinberg of the Menlo Park office is providing tax advice. The intellectual property team includes partner Steven S. Weiner and associate Vishnu Reddy, both of the Menlo Park office, and associate Stefan Quick (not yet admitted) of the New York office. Counsel Cynthia Akard of the Menlo Park office is providing employment advice.