Adesto Technologies

Adesto Technologies is an American corporation founded in 2006 and based in Santa Clara, California.[2] The company provides application-specific semiconductors 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]

Adesto Technologies Corporation
TypePublic
NASDAQ: IOTS
Industry
Founded2006 (2006)
HeadquartersSanta Clara, California, U.S.
Area served
Worldwide
Key people
Products
Revenue US$ 83.49 million (2018)
US$ -11.26 million (2018)
US$ -21.44 million (2018)
Total assets US$ 137.19 million (2018)
Total equity US$ 62.74 million (2018)
Number of employees
265[1]
Websiteadestotech.com

History

Adesto Technologies was founded by Narbeh Derhacobian, Shane Hollmer, and Ishai Naveh in 2006.[7][8] 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.[9][10]

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.[11]

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.[12][13] The entire offering was valued at $28.75 million.[13]

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.[13] The acquisition was completed three months later.[14] The company's offerings were expanded to include ASICs and IP from S3 Semiconductors and embedded systems from Echelon Corporation, in addition to its original non-volatile memory (NVM) products.

References
  1. "Adesto Technologies Corporation (IOTS) Company Profile & Facts". finance.yahoo.com. Retrieved 2019-07-02.
  2. "Company Overview of Adesto Technologies Corporation". Bloomberg. July 26, 2018.
  3. "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. 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.
  8. "Adesto Technologies Corp (IOTS.PH)". Reuters. 10 December 2018. Retrieved 13 December 2018.
  9. "Axon Technologies Corp. Announces Infineon as New Licensee of Programmable Metallization Cell Nonvolatile Memory Technology". Design And Reuse. Retrieved 2018-10-25.
  10. "ASU technology spinoff licenses new memory technology - Full Circle". Full Circle. 2004-10-06. Retrieved 2018-10-25.
  11. "The Linley Group - Adesto Targets IoT Using CBRAM". www.linleygroup.com. Retrieved 2018-07-31.
  12. "ADESTO TECHNOLOGIES CORPORATION". Nasdaq. Retrieved 14 December 2018.
  13. Lange, Chris. "Adesto Technologies Quietly Enters the Market With IPO". 247wallst.com. Retrieved 2018-12-14.
  14. "Company Overview of Echelon Corporation". Bloomberg. 12 December 2018. Retrieved 12 December 2018.
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