MACOM Technology Solutions Holdings has announced that it has entered into a definitive agreement to acquire the radio frequency business (RF Business) of Wolfspeed. The RF business includes a portfolio of Gallium Nitride (GaN) on Silicon Carbide (SiC) products used in high performance RF and microwave applications. The business services a broad customer base of leading aerospace, defence, industrial and telecommunications customers, and most recently, generated annualised revenues of approximately $150 million.
“We are excited to acquire Wolfspeed’s RF Business and look forward to welcoming its employees to MACOM,” stated Stephen G. Daly, president and CEO, MACOM. “The RF team’s engineering capabilities, technology and products are a perfect fit with MACOM and our strategy.”
The acquisition includes a 100 mm GaN wafer fabrication facility in Research Triangle Park, North Carolina, with operations conveying to MACOM approximately two years following the closing and Wolfspeed’s relocation of certain production equipment. The acquisition also includes design teams and associated product development assets in Arizona, California and North Carolina, and back-end production capabilities in California and Malaysia. In addition, MACOM will be assigned or licensed a robust intellectual property portfolio including over 1400 patents associated with the RF Business.
The RF Business will be acquired for $125 million, including $75 million cash paid at closing and $50 million of MACOM common stock issued with certain restrictions. A workforce of approximately 280 employees is expected to join MACOM at closing.
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