MA-COM and Mimix to Merge
Mimix is a leading fabless supplier of high performance gallium arsenide (GaAs) semiconductors from DC to 50 GHz for RF, microwave and millimeter-wave applications. Pursuant to the merger agreement, Mimix Holdings, Inc. and its subsidiaries will join M/A-COM Tech as subsidiaries of M/A-COM Technology Solutions Holdings, Inc. The transaction is subject to customary closing conditions and is currently expected to close in late May 2010. Financial terms were not disclosed.
Anticipated benefits of the combination include:
* Adding breadth to M/A-COM Tech's portfolio of high performance
semiconductors, as well as significant opportunities for margin expansion and cross-selling;
* Increasing penetration of high-growth, profitable markets,
including point-to-point radio and MoCA applications;
* Strengthening M/A-COM Tech's block diagram solution selling
* Deepening of both companies' relationships with key global
* Applying M/A-COM Tech's quality excellence and operational
efficiencies to the Mimix supply chain; and
* Augmenting M/A-COM Tech's hybrid fab business model.
"This strategic merger with Mimix enables us to expand our product offering of high performance, multi-function MMIC solutions, which Mimix has deep expertise in developing," stated Joe Thomas, CEO, M/A-COM Tech.
"Combining this innovative technology with our quality excellence and operational efficiencies solidifies our leadership position as a multi-market supplier and enables more rapid growth and margin expansion."
Rick Montgomery, CEO, Mimix Broadband, stated, "We consider this merger as extremely favorable for both organizations, because it creates a robust combined company that leverages our unique areas of expertise.
Little overlap exists between the two product offerings, and there is significant synergy to be realized through our customer relationships, which will accelerate growth and market penetration."
"I believe the merger of these two world-class companies creates a superior business model that positions the combined M/A-COM Tech for profitable growth and market leadership," stated John Ocampo, founder of GaAs Labs, LLC and Chairman of M/A-COM Tech.
ABOUT M/A-COM TECHNOLOGY SOLUTIONS INC.
M/A-COM Technology Solutions Inc. (M/A-COM Tech) is a leading supplier of semiconductors, active and passive components, and subassemblies for use in radio frequency (RF), microwave and millimeter wave applications.
The company provides innovative design solutions and products including:
* GaAs, InGaAs, InP, SiGe, and Si IC products
* Unique MMIC processes: HMIC(tm) and GMIC(tm)
* In-house design, fabrication, assembly and screening
* Multiple facilities for improved flexibility and local content
* Design expertise covering the spectrum from RF through
millimeter wave frequencies
* One of the broadest selections of standard and custom products
in the industry
Headquartered in Lowell, Massachusetts, M/A-COM Tech builds on some 60 years of experience to develop and manufacture active and passive products, including Si and compound semiconductors from facilities in Lowell, MA, and Torrance, CA. Infrastructure products continue to be provided by the company's facility in Cork, Ireland, and Laser Diode products in Edison, New Jersey. M/A-COM Tech is certified to ISO 9001, AS 9100 and QS-9000.
For more information visit www.macomtech.com
ABOUT MIMIX BROADBAND, INC.
Mimix Broadband, Inc. supplies high performance gallium arsenide (GaAs) semiconductors from DC to 50 GHz for RF, microwave and millimeter-wave applications. The company has offices in Houston, Sydney, Belfast and Hsinchu, and offers a unique combination of semiconductor design expertise and communications systems background to develop state-of-the-art RF, microwave and millimeter-wave semiconductors. Mimix markets a highly diversified product line that serves the top tier telecom, satellite and defense companies worldwide.
ABOUT GAAS LABS LLC.
Gaas Labs is focused on providing the financing and operational expertise necessary to help grow the next generation of world-class companies addressing communications semiconductor and related markets.
The company partners with outstanding entrepreneurs and management teams to increase portfolio companies' growth trajectory, profitability and market leadership.