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Analog/Mixed Signal

M/A-COM to Buy Mindspeed Without Wireless

06 November 2013

M/A-COM Technology Solutions Holdings Inc., a supplier of RF, microwave and millimeter wave products, said Wednesday (Nov. 6) it agreed to buy most of Mindspeed Technologies Inc. in a deal worth about $272 million.

However, M/A-COM is not buying Mindspeed for its communications processor business, which is being sold separately. M/A-COM does want Mindspeed's optical networking technology and high-speed circuit design capability to help it move into 100G networking and into data centers and metro markets.

Mindspeed, which had been undergoing a strategic review of its business options, said it is in advanced discussions with a potential buyer for its wireless business. Mindspeed said it intends to sell the wireless business prior to closing of the M/A-COM transaction.

Mindspeed's expertise in developing high-speed circuits in silicon-germanium is expected to expand M/A-COM's addressable RF and Microwave market.

M/A-COM said it agreed to buy the bulk of Mindspeed for $5.05 per share, or about $272 million. The deal is worth about $246 net of Mindspeed's cash holdings of about $26 million.

The boards of both companies have approved the transaction, which is subject to customary closing conditions and regulatory approvals. M/A-COM expects the transaction to close by the end of calendar 2013.

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