TTPCom and Analog Devices, Inc. Agreement Speeds Customer Development of ADI SoftFone-based Wireless Devices
Tony Milbourn, managing director of TTP Communications plc, commented, “This agreement is the transaction that we hoped to complete in our previous financial year. It represents the next step in our relationship – it allows ADI more freedom to close and support deals directly with the end customer, and it allows TTPCom more freedom to get maximum reuse from our software.”
Christian Kermarrec, vice president, RF and wireless systems, Analog Devices, Inc. said, “This agreement enables us to provide additional service to our customers by providing a single point of contact dedicated to individual customer needs and by accelerating the availability of integrated hardware/software solutions that support new features and new generations of our SoftFone baseband chipsets.”
The value of the agreement is approximately $23 million payable in cash, of which $11 million will be paid at closing with the balance payable after the completion of certain technical milestones. Closing is expected to occur within four to six weeks.
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