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Adesto Technologies

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Adesto Technologies Corporation
Company typePublic
Nasdaq: IOTS
Industry
Founded2006; 18 years ago (2006)
HeadquartersSanta Clara, California, U.S.
Area served
Worldwide
Key people
Products
RevenueIncrease US$ 83.49 million (2018)
Decrease US$ -11.26 million (2018)
Decrease US$ -21.44 million (2018)
Total assetsIncrease US$ 137.19 million (2018)
Total equityIncrease US$ 62.74 million (2018)
Number of employees
265[1]
ParentDialog Semiconductor
Websitewww.adestotech.com Edit this on Wikidata

Adesto Technologies Corporation was an American corporation founded in 2006 and based in Santa Clara, California.[2] The company provided application-specific integrated circuits (ASICs) and embedded systems for the Internet of Things (IoT),[3][4] and sells its products directly to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) that manufacture products for its end customers.[5][6] In 2020, Adesto was bought by Dialog Semiconductor.[7]

History

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Adesto Technologies was founded by Narbeh Derhacobian, Shane Hollmer, and Ishai Naveh in 2006.[8][9] Derhacobian formerly served in senior technical and managerial roles at AMD, Virage Logic, and Cswitch Corporations.[2] The company developed a non-volatile memory based on the movement of copper ions in a programmable metallization cell technology licensed from Axon Technologies Corp., a spinoff of Arizona State University.[10][11]

In October 2010, Adesto acquired intellectual property and patents related to Conductive Bridging Random Access Memory (CBRAM) technology from Qimonda AG, and their first CBRAM product began production in 2011.[12]

In 2015, the company held an initial public offering under the symbol IOTS, which entered the market at $5 per share. Underwriters included Needham & Company, Oppenheimer & Co. Inc., and Roth Capital Partners.[13][14] The entire offering was valued at $28.75 million.[14]

Between May and September 2018, Adesto completed two acquisitions of S3 Semiconductors and Echelon Corporation. In May, the company acquired S3 Semiconductors, a provider of analog and mixed-signal ASICs and Intellectual Property (IP) cores.[3] In June, the company announced its intention to buy Echelon Corporation, a home and industrial automation company, for $45 million.[14] The acquisition was completed three months later.[15] The company's offerings were expanded to include ASICs and IP from S3 Semiconductors and embedded systems from Echelon Corporation,[16] in addition to its original non-volatile memory (NVM) products.[17]

In 2018 Adesto started a cooperation with the University of California San Diego in order to explore the possibility for calculations to be made directly in the memory.[18]

In 2020, Adesto was acquired by Dialog Semiconductor, a company headquartered in Reading, United Kingdom, for $500 million.[7]

References

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  1. ^ "Adesto Technologies Corporation (IOTS) Company Profile & Facts". finance.yahoo.com. Retrieved 2019-07-02.
  2. ^ a b "Company Overview of Adesto Technologies Corporation". Bloomberg. July 26, 2018.
  3. ^ a b "Adesto buys Dublin-based S3 Semiconductor". EETE Analog. 2018-05-10. Retrieved 2018-07-26.
  4. ^ "Adesto Buys Echelon in Industrial Internet of Things Play". SourceToday. 2018-07-06. Retrieved 2019-06-24.
  5. ^ Clarke, Peter (July 15, 2014). "EE Times Silicon 60: Hot Startups to Watch". EE Times. Retrieved July 26, 2018.
  6. ^ Tilley, Aaron. "Adesto Is Making Low-Power Memory Chips For The Tiny Computers That Go Into Everything". Forbes. Retrieved 2018-09-23.
  7. ^ a b Dahad, Nitin (24 February 2020). "Dialog to Acquire Adesto for $500M to Access IIoT Market". EE Times. Archived from the original on 2 December 2020. Retrieved 20 March 2021.
  8. ^ Schubarth, Cromwell (October 27, 2015). "Sunnyvale chipmaker raises just $25M in first of 2 Silicon Valley IPOs expected this week". Silicon Valley Business Journal. Retrieved July 26, 2018.
  9. ^ "Adesto Technologies Corp (IOTS.PH)". Reuters. 10 December 2018. Archived from the original on 16 December 2018. Retrieved 13 December 2018.
  10. ^ "Axon Technologies Corp. Announces Infineon as New Licensee of Programmable Metallization Cell Nonvolatile Memory Technology". Design And Reuse. Retrieved 2018-10-25.
  11. ^ "ASU technology spinoff licenses new memory technology - Full Circle". Full Circle. 2004-10-06. Retrieved 2018-10-25.
  12. ^ "The Linley Group - Adesto Targets IoT Using CBRAM". www.linleygroup.com. Retrieved 2018-07-31.
  13. ^ "ADESTO TECHNOLOGIES CORPORATION". Nasdaq. Retrieved 14 December 2018.
  14. ^ a b c Lange, Chris. "Adesto Technologies Quietly Enters the Market With IPO". 247wallst.com. Retrieved 2018-12-14.
  15. ^ "Company Overview of Echelon Corporation". Bloomberg. 12 December 2018. Retrieved 12 December 2018.
  16. ^ "Adesto Tech Buys Irish ASIC Vendor S3". eetimes.com. 2018-11-05. Retrieved 2024-03-13.
  17. ^ "Adesto Releases New Low-Power Flash Memory Devices Targeted at Wearable Applications and the IoT". allaboutcircuits.com. 2019-03-03. Retrieved 2024-03-13.
  18. ^ "Hardware-software co-design approach could make neural networks less power hungry". eurekalert.org. 2018-12-19. Retrieved 2024-03-13.
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