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RFMD acquires Filtronic Semi for $24.8M

Posted: 26 Dec 2007 ?? ?Print Version ?Bookmark and Share

Keywords:RFMD acquisition? wafer fabrication? Filtronic?

RF Micro Devices Inc. and has signed a definite agreement to acquire Filtronic Compound Semiconductors Ltd for approximately $24.8 million in cash.

The acquisition price includes the purchase of Filtronic's six-inch GaAs wafer fabrication facility at Newton Aycliffe, United Kingdom, a major supplier of GaAs pHEMT semiconductors to RFMD. It also includes the purchase of Filtronic's millimeter wave RF semiconductor business.

RFMD expects the addition of Filtronic's high-volume GaAs fab to significantly reduce its GaAs pHEMT sourcing costs and provide additional capacity. RFMD also sees the addition of Filtronic's millimeter wave business to strengthen the product portfolio of its recently formed Multi-Market Products Group.

"The acquisition of Filtronic Compound Semiconductors is expected to increase our manufacturing volume, lower our overall cost structure and provide RFMD with a high-volume supply of GaAs pHEMT, all of which support our aggressive growth expectations for cellular front ends," said Bob Bruggeworth, president and CEO of RFMD. "In addition, we anticipate that Filtronic Compound Semiconductors' strong millimeter wave business will add profitable, high-margin revenue to our Multi-Market Products Group and enable RFMD to further diversify into new growth markets that leverage our global leadership in RF."

RFMD expects to complete the acquisition before the end of its fourth fiscal quarter, ending in March 2008, subject to customary closing conditions.

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