Analog Devices to buy Maxim Integrated for $21 billion

The all-stock deal, which is expected to close this summer, would put Analog’s market valuation at over $68 billion.

“With the increased breadth and depth of our combined technology and talent, we will be able to develop more complete, cutting-edge solutions,” said Vincent Roche, Analog’s President and CEO, in a statement.

The market for semiconductors — the microscopic crystals that make up micochips — has surged in the last few years. As tech companies incorporate microchips into everyday appliances, including washing machines and cars, semiconductors will be key in developing the so-called internet of things and 5G-connected gadgets.