LOWELL, Mass.— MACOM Technology Solutions Holdings, Inc. (“MACOM”) (NASDAQ: MTSI), a leading supplier of semiconductor products, today announced that it has entered into a definitive agreement through one of its French subsidiaries to acquire the assets and operations of OMMIC SAS (“OMMIC”), a semiconductor manufacturer with expertise in wafer fabrication, epitaxial growth and monolithic microwave integrated circuit (“MMIC”) processing and design.
“We are excited to acquire a new engineering and manufacturing facility located in France”
OMMIC, located near Paris in Limeil-Brévannes, France, has a 40+ year heritage in material science, semiconductor wafer processing and MMIC design. Its differentiated Gallium Arsenide (GaAs) and Gallium Nitride (GaN) compound semiconductor manufacturing capabilities include multiple European Space Agency (ESA) qualified semiconductor processes and products. OMMIC currently operates a 3-inch wafer production line and has recently installed, but is not currently utilizing, a 6-inch line.
OMMIC’s portfolio of high frequency MMIC products and its design capability will enable MACOM to better address microwave applications in the Telecommunications, Industrial and Aerospace and Defense markets.
“We are excited to acquire a new engineering and manufacturing facility located in France,” stated Stephen G. Daly, President and Chief Executive Officer. “The acquisition of OMMIC is expected to enable us to further increase our focus on the European markets, expand our wafer production capability and extend our product offerings to higher millimeter-wave frequencies, which are all in line with our long-term strategy. We believe that combining OMMIC’s technology and manufacturing capability with MACOM’s scale and market presence will be a driver of long-term growth and profitability.”
The purchase price of approximately €38.5 million will be funded with cash-on-hand and includes real estate and all associated facilities. The transaction is expected to close during MACOM’s fiscal second quarter of 2023 and is subject to regulatory approvals and customary closing conditions.
MACOM designs and manufactures high-performance semiconductor products for the Telecommunications, Industrial and Defense and Datacenter industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM operates facilities across the United States, Europe, Asia and is headquartered in Lowell, Massachusetts. To learn more visit www.macom.com.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on MACOM management’s beliefs and assumptions and on information currently available to our management. These forward-looking statements include, among others, statements about the potential market opportunity for the acquisition of the assets and operations of OMMIC, OMMIC’s capabilities and technology, MACOM’s ability to better address certain markets, expand its capabilities and extend its product offerings, the potential financial benefits derived by MACOM from the acquisition, and the anticipated timing of closing the acquisition. These forward-looking statements reflect MACOM’s current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including, among other things, risks related to the satisfaction of the conditions to closing the acquisition in the anticipated timeframe or at all, risks related to the ability of MACOM to realize the anticipated benefits of the transaction, MACOM’s ability to successfully supply, market and distribute its products and other business effects, including the effects of industry, market, economic, political or regulatory conditions, and those other factors described in “Risk Factors” in MACOM’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC. These forward-looking statements speak only as of the date of this press release, and MACOM undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.