Overview

Maxim Integrated, formally Maxim Integrated Products, Inc., was an American semiconductor company that designed, manufactured, and sold analog and mixed-signal integrated circuits. Founded in April 1983 in California, the company began with a small venture-backed team led by semiconductor entrepreneur Jack Gifford and developed a business around differentiated analog products, second-source components, and proprietary manufacturing capabilities. Its early products included voltage references, interface components, operational amplifiers, data converters, and other circuits used to connect digital systems with the physical world. The company became particularly associated with the MAX product family. The MAX232, introduced during Maxim's formative period, became a widely used interface component for converting between digital logic levels and RS-232 serial communication standards and helped the business reach its first profitable fiscal year in 1987. Maxim completed an initial public offering in 1988 and subsequently expanded through a combination of internal development, acquisitions, and purchases of semiconductor fabrication facilities. Over time, Maxim broadened its portfolio well beyond traditional analog ICs. Its products included power-management and battery-management devices, voltage regulators, analog-to-digital and digital-to-analog converters, amplifiers, interface ICs, sensor interfaces, microcontrollers, embedded-security products, communications chips, video-compression technology, storage-interface products, motion-control components, and system-on-chip products for smart meters. These offerings served automotive electronics, industrial automation, communications infrastructure, consumer products, computers, medical equipment, wireless systems, optical networking, payment terminals, and energy-management applications. Acquisitions were central to Maxim's growth. The purchase of the integrated-circuits division of Tektronix added high-speed bipolar process expertise, while the 2001 acquisition of Dallas Semiconductor strengthened the company's digital and mixed-signal capabilities and added manufacturing capacity. Later transactions added video compression, secure transactions, smart-meter systems, optical transceiver technology, sensor and microelectromechanical systems, radio-frequency design, power management, USB and video extension, and motion control. Maxim also invested in its own manufacturing network, operating or acquiring wafer fabrication facilities in California and Texas and shipping its first analog product on a 300-millimeter wafer in 2010. The company experienced a significant corporate-governance and financial-reporting disruption in the 2000s after an investigation into historical stock-option backdating and related financial statements. Its common stock was removed from Nasdaq for approximately a year while the company completed a restatement; the shares traded over the counter during that period and returned to Nasdaq in October 2008. Maxim continued operating and expanding after the restatement. In 2021, Analog Devices completed its acquisition of Maxim Integrated in an all-stock transaction valued at approximately $21 billion at announcement. Maxim ceased to operate as an independent publicly traded company and its technology, products, employees, and operations were integrated into Analog Devices. The Maxim brand and product names may continue to appear in product documentation and distribution channels, but the standalone company is defunct.

History

Maxim Integrated was established in April 1983 by Jack Gifford and a group of experienced semiconductor engineers, manufacturing specialists, sales executives, and technology developers. The founders secured approximately $9 million in venture financing on the basis of a short business plan. During its first year, Maxim developed 24 second-source products, a strategy that allowed it to enter established component categories while building a platform for proprietary analog innovation. The company introduced the MAX600 in 1985 and achieved its first profitable fiscal year in 1987. The MAX232 interface device became one of its best-known products and helped demonstrate the commercial potential of compact analog and mixed-signal components that solved practical system-design problems. Maxim went public in 1988. The following year it purchased a wafer fabrication facility in Sunnyvale, California, from bankrupt Saratoga Semiconductor, beginning a long-term emphasis on controlling selected parts of its manufacturing process. During the 1990s and early 2000s, Maxim expanded its technology base through acquisitions and fabrication investments. The 1994 purchase of Tektronix's integrated-circuits division added high-speed bipolar process expertise relevant to wireless and fiber-optic applications. In 1997, the company acquired a wafer fabrication facility in San Jose from IC Works. Its 2001 acquisition of Dallas Semiconductor was especially significant, adding digital and mixed-signal CMOS expertise, a broad product portfolio, and another wafer facility. Maxim continued to enlarge production capacity in Texas. In 2003 it acquired a submicrometer CMOS fabrication facility from Philips in San Antonio. In 2007 it purchased an Atmel fabrication facility in Irving, Texas, approximately doubling its fab capacity. The same year, Maxim acquired Vitesse Semiconductor's storage-products division, adding Serial ATA, Serial Attached SCSI, and enclosure-management technologies. The company faced a major reporting and governance crisis from 2007 to 2008. An investigation by Maxim's board examined historical stock-option backdating and the company's inability to file required financial statements. The Nasdaq listing was suspended and the common stock traded over the counter while Maxim prepared a restatement. Chief financial officer Carl Jasper resigned in connection with the matter. Maxim restated its earnings in September 2008 and regained its Nasdaq listing on October 8, 2008. After the restatement, Maxim pursued a broad acquisition program. Mobilygen was acquired in 2008 to add H.264 video-compression technology. In 2009, the company acquired French company Innova Card and product lines from Zilog, including secure-transaction technology and hardware used in wireless-control products. In 2010, Maxim acquired Teridian Semiconductor, a supplier of smart-meter system-on-chip products, as well as Trinity Convergence and Phyworks, which added software and optical-communications capabilities. Maxim shipped its first analog product made on a 300-millimeter wafer in November 2010. Further transactions added sensor and MEMS expertise through SensorDynamics in 2011, analog design capabilities through Cambridge Analog Technologies in the same year, and LTE-oriented RF technology through Genasic Design Systems in 2012. The 2013 acquisition of Volterra Semiconductor strengthened power-management products. In 2018, Maxim bought Icron Technologies, adding USB and video-extension products. In 2020 it acquired Trinamic, a company known for motion-control products. By the end of its independent existence, Maxim supplied a wide range of analog, mixed-signal, digital, power, sensing, communications, security, and embedded products to global electronics markets. Analog Devices announced the acquisition of Maxim in 2020 and completed the transaction on August 26, 2021. Maxim consequently became part of Analog Devices and ceased to be a separately listed company.

2021
Acquired by Analog Devices
[1]Maxim Integrateden.wikipedia.org
Analog Devices completed its acquisition of Maxim on August 26, ending the company's independent corporate and stock-market status.
2013
Volterra Semiconductor acquired
[1]Maxim Integrateden.wikipedia.org
The acquisition strengthened Maxim's power-management portfolio.
2008
Nasdaq listing restored
[1]Maxim Integrateden.wikipedia.org
Following a financial restatement related to the stock-option investigation, Maxim returned to Nasdaq trading.
2001
Dallas Semiconductor acquired
[1]Maxim Integrateden.wikipedia.org
The transaction expanded Maxim's digital and mixed-signal CMOS expertise and manufacturing footprint.
1994
Tektronix integrated-circuits division acquired
[1]Maxim Integrateden.wikipedia.org
The acquisition added high-speed bipolar processes and capabilities for wireless and fiber-optic products.
1989
First wafer fabrication facility acquired
[1]Maxim Integrateden.wikipedia.org
The company purchased a Sunnyvale wafer fabrication facility from Saratoga Semiconductor.
1988
Initial public offering
[1]Maxim Integrateden.wikipedia.org
Maxim became a publicly traded company through an initial public offering.
1987
First profitable fiscal year
[1]Maxim Integrateden.wikipedia.org
Maxim recorded its first profitable fiscal year, helped by the commercial success of the MAX232.
1985
MAX600 introduced
[1]Maxim Integrateden.wikipedia.org
The company introduced the MAX600, one of its early commercial analog products.
1983
Company founded
[1]Maxim Integrateden.wikipedia.org
Maxim was founded in April by Jack Gifford and a team of semiconductor specialists, supported by venture financing.

Products and positioning

High-performance analog and mixed-signal semiconductor supplier focused on connecting, powering, sensing, measuring, and securing electronic systems.

Interface IC
MAX232
The MAX232 is a serial-interface transceiver designed to convert between TTL/CMOS logic levels and RS-232 voltage levels. It became one of Maxim's most recognizable products and was widely used in computers, embedded systems, industrial equipment, and development hardware that required legacy serial communication.
Voltage reference · 1985
MAX600
Introduced in 1985, the MAX600 represented Maxim's early focus on precision analog building blocks. Voltage-reference devices provide stable reference voltages for measurement, conversion, regulation, and control circuits.
Power management
Power and battery management ICs
Maxim offered regulators, converters, battery chargers, fuel gauges, supervisors, and related power-management components. These products were designed to control voltage and current, improve energy efficiency, and manage rechargeable batteries in automotive, industrial, medical, portable, and consumer equipment.
Data conversion
Analog and mixed-signal converters
The portfolio included analog-to-digital converters, digital-to-analog converters, amplifiers, comparators, switches, multiplexers, and signal-conditioning devices. These components enabled electronic systems to measure physical signals and interface sensors with digital processors.
Sensors and interfaces
Sensor and interface products
Maxim supplied sensor-interface circuits and related products for temperature, position, motion, current, and other measurements. Acquisitions in sensor, MEMS, and analog design expanded the company's ability to support industrial, automotive, medical, and consumer sensing applications.
Energy metering · 2010
Smart-meter system-on-chip products
Through its acquisition of Teridian Semiconductor, Maxim added system-on-chip products for smart meters. These devices combined measurement and processing functions needed in electronic utility-metering systems.
Industrial automation · 2020
Motion-control products
The acquisition of Trinamic added motor-control and motion-control technology. Such products are used to drive and coordinate motors in automation equipment, robotics, laboratory instruments, and other electromechanical systems.

Controversies

2007
Stock-option backdating and financial-reporting investigation
Maxim's board investigated historical stock-option backdating and related financial-reporting issues. The company could not timely file required statements, its Nasdaq listing was removed, and its chief financial officer Carl Jasper resigned. Maxim later restated its earnings and regained its Nasdaq listing in 2008.
Source

Brand decisions

2020
Agreement to be acquired by Analog DevicesM&A
Background
The transaction combined two major analog semiconductor businesses and was intended to broaden product, customer, and technology coverage.
Action taken
Analog Devices agreed to acquire Maxim in an all-stock transaction valued at approximately $21 billion at announcement.
Aftermath
The deal closed in 2021, and Maxim became part of Analog Devices rather than continuing as an independent listed company.
Announced transaction value. Approximately US$21 billion (2020 announcement)
Source
2013
Acquisition of Volterra SemiconductorM&A
Background
Power management was a strategically important part of Maxim's analog and mixed-signal business.
Action taken
Maxim acquired Volterra Semiconductor, a power-management company.
Aftermath
The acquisition expanded Maxim's power-management capabilities, particularly for demanding electronic systems.
Source
2001
Acquisition of Dallas SemiconductorM&A
Background
Maxim wanted to expand its digital and mixed-signal CMOS design capabilities and manufacturing resources.
Action taken
The company acquired Dallas Semiconductor in a stock transaction.
Aftermath
The transaction broadened Maxim's product and technology portfolio and added another wafer fabrication facility.
Source
1989
Build a controlled semiconductor manufacturing baseStrategy
Background
Maxim sought to support its analog-product strategy with access to wafer fabrication capacity and specialized processes.
Action taken
The company acquired a wafer fabrication facility in Sunnyvale from Saratoga Semiconductor.
Aftermath
The purchase began a series of fabrication-facility acquisitions and helped establish manufacturing as part of Maxim's operating model.
Source

Recent events

2021
Analog Devices completes acquisition of Maxim Integrated[1]Maxim Integrateden.wikipedia.org
M&A
Analog Devices completed its acquisition of Maxim Integrated on August 26, 2021, ending Maxim's existence as an independent public company.
2020
Analog Devices agrees to acquire Maxim Integrated[1]Maxim Integrateden.wikipedia.org
M&A
Analog Devices announced an all-stock agreement to acquire Maxim Integrated, with the transaction valued at approximately $21 billion based on the announcement terms.

Related entries

Analog Devices

Volterra Semiconductor

Linear Technology