CML Microsystems to acquire Microwave Technology

Mixed-signal, radiofrequency (RF) and microwave semiconductor manufacturer CML Microsystems has entered into an agreement to acquire Silicon Valley-based Microwave Technology for up to $18m.

A fellow semiconductor manufacturer, Microwave Technology focuses on the design, manufacturing and marketing of GaAs and GaN-based monolithic microwave integrated circuits (MMICs), discrete devices and hybrid amplifier products for commercial wireless communication, defence, space and medical (MRI) applications.

In 2019, the company undertook a management buy-out from Littelfuse, at the same time transitioning away from manufacturing to a fabless semiconductor model with a specific focus on MMICs. The business currently consists of just over 20 employees and operates from its sole location in Fremont, California.

If the deal goes to plan, the acquisition of Microwave Technology will expand CML Microsystems’ product portfolio an enhance its support resources by increasing its research and development (R&D) capabilities.

It is also hoped the purchase will increase CML Microsystems’ current market share by internationalising Microwave Technology’s products. Expanding on this, Chris Gurry, Managing Director of CML Microsystems, further says the purchase will accelerate the company’s multi-year growth stages.

The acquisition, which is subject to US regulatory clearance, is expected to close during the first half of 2023. CML Microsystems has said an announcement will be made at an appropriate time.

Dr. Nathan Zommer, Chairman of the Microwave Technology Board, added, “We are excited that Microwave Technology will be part of a growing enterprise with CML. Given the deep understanding of RF and microwave technologies that CML has, the combination offers us scaled-up growth with new opportunities.”

Upon successful closing of the transaction, it is intended that Microwave Technology’s majority shareholder and current Chairman, Dr Nathan Zommer, will join the CML Board of Directors in a non-executive capacity.

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