UnitedSiC Announces Strategic Investment by Analog Devices
PRINCETON, New Jersey and NORWOOD, Massachusetts, March 18, 2019 /PRNewswire/ -- UnitedSiC, a manufacturer of silicon carbide (SiC) power semiconductors, today announced a strategic investment and long-term supply agreement from Analog Devices, Inc. (ADI). Terms of the investment and supply agreement were not announced.
"From our first meeting with the ADI Power team, they instantly understood the value of our SiC technology and the ease with which the devices could be scaled and utilized in their power platforms. This is a terrific time to bring such a high caliber leader like ADI on as a shareholder," said Chris Dries, President and CEO at UnitedSiC.
UnitedSiC and ADI have been collaborating on SiC-based products and devices for more than two years. As wide bandgap power devices, and SiC in particular, become more mainstream and cost effective, the inclusion of these devices should further strengthen ADI's analog power portfolio.
Steve Pietkiewicz, Senior VP of Power Products at ADI said, "For the last few years, we have been actively following the development and progress of silicon carbide technology and devices. We found UnitedSiC's FET technology to be ideally suited for ADI's high performance power platforms and our pursuit of additional high voltage applications."
For more information please go to https://unitedsic.com, or visit UnitedSiC at Booth 332 at APEC from March 18 - 20, 2019.
About UnitedSiC
UnitedSiC, a fabless company based in Princeton, NJ, develops innovative silicon carbide FET and diode power semiconductors that deliver the industry's best SiC efficiency and performance for electric vehicle (EV) chargers, DC-DC converters and traction drives, as well as telecom/server power supplies variable speed motor drives and solar PV inverters. Visit http://www.unitedsic.com.
About Analog Devices
Analog Devices (Nasdaq: ADI) is a leading global high-performance analog technology company dedicated to solving the toughest engineering challenges. We enable our customers to interpret the world around us by intelligently bridging the physical and digital domains with unmatched technologies that sense, measure, power, connect, interpret, and secure. Visit http://www.analog.com.
Forward-Looking Statements
This release may be deemed to contain forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, the statements regarding the expected opportunities, benefits and developments associated with the strategic investment and long-term supply agreement between UnitedSiC and Analog Devices, including the anticipated advancements in technologies, solutions and product development efforts and offerings, that are based on our current expectations, beliefs, assumptions, estimates, forecasts, and projections about the industry and markets in which Analog Devices operates. The statements contained in this press release are not guarantees of future performance, are inherently uncertain, involve certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements, and such statements should not be relied upon as representing Analog Devices' expectations or beliefs as of any date subsequent to the date of this press release. Important factors that could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements include difficulty or delay in the design, development, production and marketing of products, technologies and solutions, including those associated with the strategic investment and long-term supply agreement and other risk factors described in Analog Devices' most recent filings with the Securities and Exchange Commission. Analog Devices does not undertake any obligation to update forward-looking statements made by it.
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SOURCE UnitedSiC
