M/A-COM and Mimix Merge
M/A-COM Technology Solutions (M/A-COM Tech), a supplier of semiconductors and components and Mimix Broadband (Mimix) jointly announce today they have signed an agreementthat will add Mimix to the M/A-COM Tech subsidiaries. Mimix , a fabless supplier of high performance gallium arsenide(GaAs) semiconductors from DC to 50 GHz for RF, microwave andmillimeter-wave applications. Thetransaction is subject to customary closing conditions and is currentlyexpected to close in late May 2010. Financial terms were not released. Expected benefits of the combination include: * Increasing M/A-COM Tech's portfolio of high performancesemiconductors, as well as significant opportunities for marginexpansion 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 sellingapproach
* Extending relationships with key globalcustomers
* Applying M/A-COM Tech's quality excellence and operationalefficiencies to the Mimix supply chain
* Expanding M/A-COM Tech's hybrid fab business model. Joe Thomas, CEO of M/A-COM Tech commented, "This strategic merger with Mimix enables us to expand our productoffering of high performance, multi-function MMIC solutions, which Mimixhas deep expertise in developing". He added ,"Combining this innovative technology with our quality excellence andoperational efficiencies solidifies our leadership position as amulti-market supplier and enables more rapid growth and margin
expansion." Rick Montgomery, CEO, Mimix Broadband, remarked, "We consider this mergeras extremely favorable for both organizations, because it creates arobust combined company that leverages our unique areas of expertise.
Little overlap exists between the two product offerings, and there issignificant synergy to be realized through our customer relationships,which will accelerate growth and market penetration." John Ocampo, founder ofGaAs Labs, LLC and Chairman of M/A-COM Tech added"I believe the merger of these two world-class companies creates asuperior business model that positions the combined M/A-COM Tech for
profitable growth and market leadership."
