SynopsisIn a significant move, Analog Devices has agreed to purchase Alif Semiconductor for $1.35 billion in cash. This acquisition is set to enhance ADI's on-device capabilities amidst the growing trend of AI technology infiltrating physical systems.ReutersAlif's chips are already shipping and ‌have secured customers in the consumer and industrial sectors.Analog Devices will acquire privately held Alif Semiconductor for $1.35 billion in cash, the companies said on Wednesday, expanding ADI's on-device capabilities as AI applications increasingly move into ‌physical systems.The acquisition ⁠would ⁠combine ADI's sensing, signal-processing and power-management technologies ​with Alif's AI processors, allowing customers to build systems ​that can analyse and respond in real time.Here are some more details:Pleasanton, California-based Alif ⁠develops low-power processors ‌that combine AI computing, ​data ​from sensors, connectivity and security ⁠functions for consumer and industrial applications.Under ​the agreement, analog chipmaker ADI ​will pay Alif $1.35 billion upfront and could make additional contingent payments of up to $200 million.Alif's chips are already shipping and ‌have secured customers in the consumer and industrial sectors.PJT Partners ​and ​Qatalyst Partners ⁠are financially advising ADI and Alif on the deal, respectively.Last month, Wilmington, Massachusetts-based ​ADI forecast fourth-quarter revenue and profit above Wall Street estimates, after reporting a 40 per cent rise in its third-quarter revenue. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now