Macom Completes Applied Micro Acquisition
RF, microwave and photonics semiconductor firm Macom has successfully completed its previously announced acquisition of Applied Micro Circuits Corporation.
AppliedMicro is a US company that makes networking and computing solutions for datacentres.Â
"AppliedMicro's leadership in MACsec and 100G to 400G single-Lambda PAM4 positions Macom as a preferred supplier to major enterprise and cloud datacentre providers, many of whom are adopting the technologies this year," said John Croteau, Macom's president and CEO.
"Macom will now be able to support customers with all of the requisite semiconductor content for optical networks╤analog, photonic and mixed signal PHY - from the switch to fibre for long haul, metro, access, backhaul and datacentres."
Commenting further Croteau noted:"With the transaction now closed, Macom plans to promptly engage with previously identified potential buyers toward a near-term divestment of Applied Micro's well-positioned Compute business. As previously stated, this portion of the business does not strategically align with our long-term product focus, but we feel confident a successful transaction can be consummated."
The exchange offer to acquire all of the issued and outstanding shares of AppliedMicro common stock in exchange for $3.25 in cash and 0.1089 shares of Macom common stock per share, in each case, without interest and less any applicable withholding, expired at 12:00 a.m. midnight, Eastern time, at the end of January 25, 2017.
The depositary for the exchange offer has informed Macom that a total of 64,466,896 shares of AppliedMicro common stock, representing approximately 73.6 percent of Applied Micro's outstanding shares of common stock, were validly tendered and not validly withdrawn pursuant to the exchange offer. All shares that were validly tendered and not validly withdrawn in the exchange offer have been accepted for payment in accordance with the terms of the exchange offer and applicable law.
After the successful completion of the exchange offer for all outstanding shares of Applied Micro, a wholly owned subsidiary of Macom has been merged with and into AppliedMicro, followed by a merger of AppliedMicro with and into another Macom subsidiary.
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