MACOM agreed to acquire the radio frequency business (the RF business) of Wolfspeed for $125 million, including $75 million cash paid at closing and $50 million of MACOM common stock issued with certain restrictions.
The acquisition includes a 100mm GaN wafer fabrication facility in Research Triangle Park, North Carolina (the “RTP Fab”) with operations conveying to MACOM approximately two years following the closing and Wolfspeed’s relocation of certain production equipment. The acquisition also includes design teams and associated product development assets in Arizona, California and North Carolina, as well as back-end production capabilities in California and Malaysia. In addition, MACOM will be assigned or licensed a robust intellectual property portfolio including over 1,400 patents associated with the RF Business. A workforce of approximately 280 employees is expected to join MACOM at closing, with additional employees joining when the RTP Fab conveys.
“We are excited to acquire Wolfspeed’s RF Business and look forward to welcoming its employees to MACOM,” stated Stephen G. Daly, President and Chief Executive Officer, MACOM. “The RF team’s engineering capabilities, technology and products are a perfect fit with MACOM and our strategy.”