MACOM Technology Solutions to Acquire the RF Business of Wolfspeed, Inc for $125M
Portfolio Pulse from Benzinga Newsdesk
MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) has announced a definitive agreement to acquire the radio frequency business of Wolfspeed, Inc. for $125 million. The acquisition includes a portfolio of Gallium Nitride products used in high performance RF and microwave applications. The business generated annualized revenues of approximately $150 million and is expected to be immediately accretive to MACOM's non-GAAP earnings.
August 22, 2023 | 10:08 am
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POSITIVE IMPACT
MACOM's acquisition of Wolfspeed's RF business is expected to be immediately accretive to its non-GAAP earnings. The deal includes a portfolio of high-performance products and a broad customer base.
The acquisition of a profitable business that generated $150 million in annualized revenues is likely to have a positive impact on MACOM's financial performance and stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100