NORWOOD, Mass.--(BUSINESS WIRE)--Analog Devices, Inc. (ADI) today announced it is relocating and expanding its “Analog Garage” innovation center and corporate incubation laboratory from its current location in Cambridge, Mass. to downtown Boston. This move supports the Company’s commitment to growth through innovation as the new facility will accommodate an additional 80-140 hires and drive the development of new technologies and solutions.
“The Analog Garage is the cornerstone of our long-standing belief in taking creative risks to solving customer challenges,” said Vincent Roche, CEO, Analog Devices. “By moving those operations to Boston, the Garage will benefit from close proximity to Boston’s burgeoning innovation hub and allow us to more easily connect with entrepreneurs, partners, clients and prospective employees.”
In addition to providing the additional space and resources for employees to conceptualize and test new ideas, the Analog Garage provides critical resources for early stage ventures to accelerate their own disruptive ideas. Through mentoring and strategic partnerships, the Analog Garage collaborates with academic institutions and entrepreneurs developing offerings in sensors, machine learning, security, energy harvesting, energy storage and signal processing based solutions across multiple industries.
“Analog Devices has been a leader in Greater Boston's economy and the high-tech industry for over 50 years, and I am pleased to welcome them to the City of Boston and our ever-growing innovation ecosystem,” said John F. Barros, Chief of Economic Development, City of Boston. “The Boston region's network of talent, higher education institutions, and established entrepreneur community is unmatched, and I look forward to seeing the Analog Garage team capitalize on these resources and continue to produce creative and disruptive ideas.”
Occupying 25,000 sq. ft. in the newly renovated 125 Summer Street building overlooking South Station & the Greenway, the new Garage space is considerably larger than the current location and is conveniently located to public transport and major highways. TransWestern brokered the lease for Analog Devices with Oxford Properties Group, managers of 125 Summer Street.
Analog Devices anticipates a September occupancy at the Summer Street location. For more information about Analog Garage, please visit: www.analog.com/garage
About Analog Devices
Analog Devices (NASDAQ: ADI) is the leading global high-performance analog technology company dedicated to solving the toughest engineering challenges. We enable our customers to interpret the world around us by intelligently bridging the physical and digital with unmatched technologies that sense, measure, power, connect and interpret. Visit http://www.analog.com.
This release may be deemed to contain forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, our statements regarding the expected benefits and timing of the expansion and relocation of Analog Garage, anticipated hiring efforts and expected advances in our technologies, solutions and product development efforts and offerings, that are based on our current expectations, beliefs, assumptions, estimates, forecasts, and projections about the industry and markets in which Analog Devices operates. The statements contained in this release are not guarantees of future performance, are inherently uncertain, involve certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements, and such statements should not be relied upon as representing Analog Devices' expectations or beliefs as of any date subsequent to the date of this press release. Important factors that could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements include delay in the occupancy of the Summer Street location, difficulty or delay in our design, development, production and marketing of products, technologies and solutions, including those associated with Analog Garage and other risk factors described in our most recent filings with the Securities and Exchange Commission. We do not undertake any obligation to update forward-looking statements made by us.
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