June 29, 2018
Dear Valed Customers,
We are writing today to share the news that Adesto Technologies has announced our intention to acquire Echelon Corporation, a pioneer in the development of open-standard networking platforms for connecting, monitoring and controlling devices in commercial and industrial applications.
This news follows closely on our acquisition of S3 Semiconductors, and continues to build toward our goal of becoming a major player in semiconductors for the IoT, and in particular the industrial IoT.
Adesto started out providing ultra-low power memories for IoT, and we’ve continued adding to our memory portfolio with a wide range of application-specific devices. Through S3semi, we added strong ASIC capabilities. With Echelon we are adding not just semiconductors, but powerful software and deep systems expertise for industrial systems.
We want to assure you, as a valued Adesto partner, that we remain extremely focused on our memory business, which after this acquisition will be one of three business units within the company. We are continuing to invest in our memory business as planned, and look forward to rolling out new products.
We believe that the acquisitions of S3semi and Echelon add increased value for Adesto’s customers, who now have access to a broader portfolio of semiconductors, software and systems that can help build innovative products for IoT applications in industrial markets and beyond.
We expect the Echelon transaction to close in the third calendar quarter of 2018, subject to Echelon shareholder approvals.
We will share more information with you upon the close of the acquisition. In the meantime, please contact your sales representative for more information.
Narbeh Derhacobian, CEO