MACOM Announces Definitive Agreement to Acquire Assets and Operations of OMMIC SAS
Summary
LOWELL, Mass.--(BUSINESS WIRE)--MACOM Technology Solutions Holdings, Inc. (“MACOM”) (NASDAQ: MTSI), a leading supplier of semiconductor products, today announced that it has entered into a definitive agreement through one of its French subsidiaries to acquire the assets and operations of OMMIC SAS (“OMMIC”), a semiconductor manufacturer with expertise in wafer fabrication, epitaxial growth and monolithic microwave integrated circuit (“MMIC”) processing and design. OMMIC’s portfolio of high frequency MMIC products and its design capability will enable MACOM to better address microwave applications in the Telecommunications, Industrial and Aerospace and Defense markets. We believe that combining OMMIC’s technology and manufacturing capability with MACOM’s scale and market presence will be a driver of long-term growth and profitability.” The purchase price of approximately €38.5 million will be funded with cash-on-hand and includes real estate and all associated facilities. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. These forward-looking statements reflect MACOM’s current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including, among other things, risks related to the satisfaction of the conditions to closing the acquisition in the anticipated timeframe or at all, risks related to the ability of MACOM to realize the anticipated benefits of the transaction, MACOM’s ability to successfully supply, market and distribute its products and other business effects, including the effects of industry, market, economic, political or regulatory conditions, and those other factors described in “Risk Factors” in MACOM’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC.