Wolfspeed completes sale of RF business to Macom
Wolfspeed takes final step in transfomation to pure-play SIC semiconductor manufacturer
Wolfspeed has completed the sale of its RF business to Macom Technology, receiving approximately $75 million in cash and 711,528 shares of Macom common stock, with a market value of around $60.8 million.
“The completed sale of Wolfspeed RF is the final step in our transformation, and we’re happy to say Wolfspeed is now the only pure-play SIC semiconductor manufacturer in the industry,” said Gregg Lowe, Wolfspeed president and CEO. “As demand continues to accelerate across the automotive, industrial and renewable energy markets, we can now focus on innovation and capacity for our materials and power device businesses.”
Wolfspeed continues to drive the industry transition to SIC with its ongoing capacity expansion, including the final build-out of the company’s Mohawk Valley Fab in New York, and construction of the John Palmour Manufacturing Center (the JP), the world’s largest SIC materials factory in Siler City, North Carolina. The state-of-the-art, multi-billion-dollar facility is targeted to generate a more than 10-fold increase from Wolfspeed’s current SIC production capacity on its Durham, North Carolina campus.