Adesto agrees to acquire Echelon

Adesto Technologies, Santa Clara, CA, a manufacturer of application-specific semiconductors focused on the IoT market, agreed to acquire Echelon Corp., a long-time provider of device networking platforms. The acquisition price of $8.50 per share represents a total enterprise value of about $30 million.

“Following the acquisition of Echelon, we will be able to provide not only semiconductors, but also powerful software and deep systems and solutions expertise for industrial systems and enterprise automation, with a loyal customer base,” said Narbeh Derhacobian, CEO of Adesto. “We’re excited about the potential this acquisition presents as Adesto enters its next phase of growth.”