Adesto Technologies
| Company type | Public |
|---|---|
| Industry | Semiconductor |
| Founded | 2006 |
| Founder | Narbeh Derhacobian, Shane Hollmer, Ishai Naveh |
| Defunct | 2020 |
| Fate | Acquired by Dialog Semiconductor |
| Headquarters | Santa Clara , United States |
Area served | Worldwide |
Key people | Narbeh Derhacobian (President and CEO), Ron Shelton (CFO) |
| Products | Non-volatile memory solutions, custom ASIC designs, semiconductor intellectual property cores, embedded systems |
Number of employees | 265 (2018) |
Adesto Technologies Corporation was a semiconductor firm based in Santa Clara, California, established in 2006. The company focused on developing application-specific integrated circuits (ASICs) and embedded system solutions tailored for the Internet of Things (IoT) sector. Its products were marketed directly to original equipment manufacturers (OEMs) and original design manufacturers (ODMs), catering to clients worldwide.
In 2018, Adesto recorded revenues amounting to US$83.49 million, while reporting operating losses of US$11.26 million and a net loss of US$21.44 million. During the same period, its total assets grew to US$137.19 million and equity reached US$62.74 million, indicating sustained investment toward expansion. The workforce consisted of around 265 employees, led by President and CEO Narbeh Derhacobian alongside CFO Ron Shelton.
The company’s offerings encompassed non-volatile memory solutions, custom ASIC designs, semiconductor intellectual property cores, and embedded systems, securing a competitive position within the semiconductor arena. In 2020, Dialog Semiconductor acquired Adesto for $500 million, strengthening Dialog’s footprint in the industrial IoT domain and enlarging its international presence.
History
Adesto Technologies was established in 2006 by Narbeh Derhacobian, Shane Hollmer, and Ishai Naveh. Derhacobian brought extensive experience from previous senior technical and managerial positions at companies such as AMD, Virage Logic, and Cswitch Corporations. The firm developed non-volatile memory based on programmable metallization cell technology licensed from Axon Technologies, a spin-off originating from Arizona State University.
In October 2010, Adesto purchased intellectual property rights and patents related to Conductive Bridging Random Access Memory (CBRAM) technology from Qimonda AG. This acquisition enabled the launch of its inaugural CBRAM product line in 2011.
Adesto completed its initial public offering (IPO) in 2015 under the ticker symbol IOTS, issuing shares at $5 each and raising $28.75 million. The offering was managed by underwriters including Needham & Company, Oppenheimer & Co., and Roth Capital Partners.
Between May and September 2018, the company expanded through strategic acquisitions of S3 Semiconductors—specializing in analog and mixed-signal ASICs and IP cores—and Echelon Corporation, a home and industrial automation enterprise acquired for $45 million. These transactions diversified Adesto’s product range by integrating ASICs, IP cores, and embedded systems alongside its core non-volatile memory technologies.
In 2018, Adesto collaborated with the University of California San Diego to investigate in-memory computing approaches designed to lower power consumption in neural network applications.
The acquisition of Adesto by Dialog Semiconductor in 2020 for $500 million marked a pivotal development in the company’s growth trajectory and global operations expansion. Dialog Semiconductor is headquartered in Reading, United Kingdom.