MACOM To Acquire Wolfspeed's RF Business; Expects Acquisition To Be Immediately Accretive

(RTTNews) - MACOM Technology Solutions Holdings, Inc. (MTSI) has entered into a definitive agreement to acquire the radio frequency business of Wolfspeed, Inc. The RF Business includes a portfolio of Gallium Nitride on Silicon Carbide products used in high performance RF and microwave applications. A workforce of approximately 280 employees is expected to join MACOM at closing.

MACOM will acquire the RF Business for $125 million, including $75 million cash paid at closing and $50 million of MACOM common stock issued with certain restrictions.

MACOM noted that the RF business most recently generated annualized revenues of approximately $150 million. The company expects the acquisition to be immediately accretive to its non-GAAP earnings.