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M/A-COM Acquires Aeroflex's Diode Business from Cobham

Strengthens M/A-COM's Position in RF and Microwave Diodes

M/A-COM Technology Solutions Holdings, Inc. (MACOM), a supplier of high-performance analog RF, microwave, millimeterwave and photonic semiconductor products, has announced that it has acquired 100 percent of Aeroflex's diode business for $38 million in cash. The business had approximately $37 million in revenue for the fiscal year ended December 31, 2014.

Expected highlights of the transaction include:

> Extending M/A-COM's leadership position in RF and microwave diodes;

> Complementing existing product portfolio with addition of JAN-certified diodes and transistors;

> Increasing scale and opportunity to drive COGS efficiencies; and

> Accretion to  M/A-COM's earnings per share once fully integrated.

Commenting on the transaction, John Croteau, President and Chief Executive Officer of, M/A-COM stated, "We expect that Areoflex's business will be extremely complementary to our existing product portfolio and further extend  M/A-COM's leading position in high-performance diodes. We believe that the transaction will provide meaningful scale advantages for our diode business, and that once their facilities are fully integrated, M/A-COM will be able to drive beneficial COGS efficiencies that will make the transaction accretive to MACOM's non-GAAP operating margins and earnings per share."

M/A-COM funded the purchase price of the acquisition with available cash.

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