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Investing.com -- Analog Devices Inc. will sell its manufacturing facility in Penang, Malaysia to ASE Technology, according to a statement.
ASE Technology will acquire 100% of the equity of Analog Devices Sdn. Bhd., which includes the Penang manufacturing facility.
As part of the agreement, Analog Devices (ADI) and ASE will enter into a long-term supply arrangement where ASE will provide manufacturing services to ADI.
The companies also announced plans to collaborate on enhancing the Penang facility, with ADI planning to co-invest with ASE in upskilling the operation.
Financial terms of the transaction were not disclosed in the statement.
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