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Wolfspeed to sell RF business to MACOM for $125M

Update time : 2023-08-25 11:47:30

Wolfspeed announced that the company has entered into a definitive agreement to sell its RF business to MACOM.
According to the announcement, the RF business will be acquired for $125 million, consisting of $75 million in cash paid at closing and $50 million of MACOM common stock issued with certain restrictions. The company expects the transaction to close by the end of this year, at which time approximately 280 employees will join MACOM, with additional employees joining once the RTP plant is delivered.

The acquisition includes a 100mm GaN wafer fabrication facility in Research Triangle Park, N.C. Approximately two years after closing, MACOM will take over control of Wolfspeed's 100mm GaN wafer fabrication facility in Research Triangle Park, N.C., to accommodate Wolfspeed's relocation of certain production equipment. The acquisition also includes design teams and related product development assets in Arizona, California and North Carolina, as well as back-end manufacturing capabilities in California and Malaysia. In addition, MACOM will receive the transfer or license of a strong intellectual property portfolio, including more than 1,400 patents related to its RF business.
Given the significant growth we are seeing in the automotive, industrial and renewable energy markets, we believe there is no better time than now to further focus on expanding our power devices and materials business to meet this accelerated demand," said Gregg Lowe, Wolfspeed's president and chief executive officer. This transaction also provides a tremendous opportunity for our RF team to leverage MACOM's diverse customer base, RF engineering leadership and operational efficiencies to grow and operate at scale."
Stephen G. Daly, President and Chief Executive Officer of MACOM, said, "We are pleased to acquire Wolfspeed's RF business and look forward to having its employees join MACOM. the RF team's engineering capabilities, technology and products are a perfect fit with MACOM and our strategy."

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