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Using several analog-to-digital converters (ADCs) in parallel with convenient time offsets is considered an efficient way to push the speed limits of data acquisition systems. However, a serious drawback of this time-interleaving technique is that any mismatch between the channels will damage the precision. This paper gives a probabilistic description of the problem, studying the impact of time skews, gain, and offset mismatches. The probability density function of both signal-to-noise ratio (SNR) and spurious-free-dynamic range (SFDR) are explicitly calculated, giving access to important statistical parameters. It is shown that the SNR and SFDR dispersion should not be neglected in making practical considerations for design decisions.