Thursday, October 27, 2016

Innovasic Acquired By Analog Devices

Albuquerque, New Mexico-based Innovasic, a developer of Ethernet semiconductors and software, has been acquired by Analog Devices, Analog said this morning. Financial terms of the acquisition were not announced. Analog said the buy will help add a suite of multiprotocol Industrial Ethernet products and enabling technologies to its portfolio. Innovasic's team becomes part of Analog's Industrial Automation Business Unit. The group will continue to be based in Albuqerque, and will be led by Jordan Woods, Innovasic's co-founder and current COO. Innovasic was venture backed by Grayhawk Venture Partners, Red River Ventures, Sensor Technology Development Fund, and Valley Ventures.