Mergers & Acquisitions in 2019

- everything RF

Dec 26, 2019

The year 2019, saw a number of company mergers and acquisitions taking place throughout the RF/Microwave industry. From technical to tactical, the mergers/acquisitions carried various reasons for different industry players. Some of the main highlights of the year included the acquisition of Maxwell Semiconductor by NXP, the acquisition of Cypress Semiconductor by Infineon, as well as the acquisition of Quantenna by ON Semiconductor. Here is a list of all the mergers/acquisitions news headlines of 2019. Have a look:

Cadence Acquires AWR Corporation from NI for $160 Million

Cadence Design Systems entered into a definitive agreement to acquire AWR Corporation, a wholly-owned subsidiary of National Instruments (NI) for approximately $160 million in cash. AWR is an industry leader in high-frequency RF EDA software technology and brings a highly talented RF team to Cadence. The strategic alliance builds upon the broad-ranging collaboration that National Instruments and Cadence initiated in 2018 to improve the overall semiconductor development and testing of next-generation wireless, automotive and mobile integrated circuits (ICs) and modules. Through the agreement, both the companies expect the joint development of technology, methodology and intellectual property to streamline electronics development. Read More.

Apple Acquires Intel’s Smartphone Modem Business for $1 Billion

Apple announced acquiring the majority of Intel’s smartphone modem business for $1 Billion. This included approximately 2,200 Intel employees who joined Apple, along with intellectual property, equipment, and leases. Intel retained the option to develop modems for non-smartphone applications, such as PCs, internet of things devices and autonomous vehicles. Read More.

ETL Systems Acquires Atlantic Microwave to Strengthen its Global RF Product Range

ETL Systems acquired Atlantic Microwave, a leading provider of microwave components and satellite communication test equipment. With a shared focus on custom design and providing customer service that’s second to none, the acquisition saw Atlantic expanding its range of RF-based products. Atlantic’s clients also benefit from ETL’s engineering expertise covering RF, PCB and CAD design. As a result of the acquisition, the two companies now offer a wider product range to their customers. Read More.

HUBER+SUHNER Acquires Antenna Business from Kathrein SE

Huber + Suhner acquired the antenna portfolio for security-relevant applications from Kathrein SE (Germany). With this acquisition, Huber + Suhner expanded its own antenna portfolio, strengthening its market position in the area of Special Communications / Public Mobile Radio (PMR) in connection with the growing need for secure mobile communication. It acquired the antenna business from Kathrein as a rounding-off acquisition for the targeted expansion of its own product range. The annual turnover of the acquired portfolio was in the low single-digit millions range. Read More.

Ironwave Technologies Acquires American Microwave Corporation

Ironwave Technologies, a leading provider of RF and Microwave Technologies, acquired American Microwave Corporation (AMC). AMC has been designing and manufacturing solid state control components and subsystems from DC to 40 GHz for the communication and Electronic Warfare community since 1978. The company is based in Frederick, Maryland and is best known for their expertise in developing DLVAs. Read More.

CPI to Acquire Satellite Antenna Systems Business of General Dynamics

Communications & Power Industries (CPI) entered into an agreement to purchase SATCOM Technologies, the antenna systems business of General Dynamics Mission Systems, a business unit of General Dynamics. The acquisition complemented CPI's existing portfolio of communications products for government, military, and commercial applications. Read More.

Raytheon and United Technologies to Merge to Form $150 Billion Company

Raytheon and United Technologies entered into an all-stock merger of equals. The transaction created a premier systems provider with advanced technologies to address rapidly growing segments within aerospace and defense. The combined company, named Raytheon Technologies Corporation, offers expanded technology and R&D capabilities to deliver innovative and cost-effective solutions aligned with customer priorities and the national defense strategies of the U.S. and its allies and friends. Read More.

US Private Equity Firm Acquires Cobham for $5 Billion

US-based private equity firm, Advent International, acquired UK’s leading aerospace and defense company, Cobham plc for a total sum of USD $5 billion. Advent agreed on offering 165 pounds in cash for each Cobham share representing a 50% premium to the three-month average price. In lieu of the acquisition deal, shares in Cobham jumped 35% to just above the offer price, the highest since March 2016. The deal was part funded by about 2.5 billion pounds of debt. Cobham had a string of profit warnings in 2016 and 2017, forcing it to raise cash from shareholders, focusing on improving the company’s financial and operating performance. Read More.

NXP Acquires Marvell's Wi-Fi Connectivity Business for $1.76 Billion

NXP and Marvell entered into a definitive agreement under which NXP acquired Marvell's Wi-Fi Connectivity business in an all-cash, asset transaction valued at $1.76 billion. The acquisition encompasses Marvell's Wi-Fi and Bluetooth technology portfolios and related assets. The business employed approximately 550 people worldwide and generated roughly $300 million in revenue in Marvell's fiscal 2019. Read More.

Taoglas Acquires Firmwave to Enable Next Generation IoT Applications

Taoglas acquired Firmwave, an IoT product design, and engineering company based in Ireland, to deliver Next-Generation IoT to best-in-class IoT applications such as healthcare, energy and utilities, supply chain and logistics, transportation, agriculture, and construction. Both companies headquartered in Ireland with facilities in DCU Alpha, already had a long history with each other. In the past two years, Taoglas collaborated with Firmwave on Taoglas Shift, an artificial intelligence (AI) beam-steering antenna system for 5G networks. Read More.

L3 Technologies and Harris Corporation Announce Merger

L3-Harris Technologies announced the successful completion of the all-stock merger between Harris Corporation and L3 Technologies on June 29, 2019. Headquartered in Melbourne, Florida, L3Harris became the sixth-largest defense company in the US, and a top 10 defense company worldwide – with approximately $17 billion in revenue and 50,000 employees, including 20,000 engineers and scientists. Read More.

ANSYS Acquires Electronics Automated Design Analysis Leader, DfR Solutions

ANSYS announced the completion of acquisition of all assets of DfR Solutions, the developer of Sherlock, the industry's only automated design reliability analysis software. ANSYS' comprehensive multi-physics solutions, combined with DfR Sherlock's accurate reliability analyses, provide a complete designer-level toolkit enabling customers to quickly and easily analyze for electronics failure earlier in the design cycle – saving users time and money during the development process. Read More.

Qorvo to Acquire Supplier of Programmable Analog Power Solutions

Qorvo entered into a definitive agreement to acquire private fabless supplier of programmable analog power solutions, Active-Semi International. Active-Semi became part of Qorvo’s Infrastructure and Defense Products (IDP) group. Active-Semi’s technologies are positioned to intersect multiple long-term secular trends in 5G, industrial, data center, automotive and smart home by addressing the increased demand for efficient power solutions. Read More.

Electro Technik Industries Acquires Microwave Components Developer, RF Techniques

Passive electronic components pioneer, Electro Technik Industries announced the acquisition of San Jose-based Microwave and RF solutions developer, RF Techniques Inc. The newly acquired company will be part of the Electro Technik - RF/Microwave Group and report to Alen Fejzuli, the Group President. RF Techniques is a leading designer and manufacturer specializing in high temperature brazed High-Power Resistors, High-Power Attenuators and Terminations for the high reliable Microwaves and RF applications. Read More.

Taoglas Acquires Commercial Vehicle Antenna Innovator, ThinkWireless

Taoglas completed the acquisition of ThinkWireless, an antenna provider that specializes in the design, development, and production of combination antenna systems for the commercial vehicle market. The ThinkWireless brand, became ThinkWireless, a Taoglas company. Read More.

ANSYS Acquires Electromagnetic Crosstalk Solutions Provider, Helic

ANSYS entered into a definitive agreement to acquire Helic, the leading provider of electromagnetic crosstalk solutions for systems on chips (SoCs). The acquisition of Helic combined with ANSYS' flagship electromagnetic and semiconductor solvers provides a comprehensive solution for on-chip, 3D integrated circuit and chip-package-system electromagnetics and noise analysis. Read More.

Mercury Systems Acquires GECO Avionics for $36.5 Million

Leading defense solutions company, Mercury Systems announced the acquisition of GECO Avionics (GECO). Based in Mesa, AZ, GECO has over twenty years of experience designing and manufacturing affordable safety-critical avionics and mission computing solutions. GECO’s DO-254 certified hardware solutions include mission processors, airborne displays, video processing and aviation networking. Mercury acquired GECO for an all cash purchase price of $36.5 million, subject to net working capital and net debt adjustments. Read More.

MCS Rentals Acquires Electro Rent UK

MCS Rentals Ltd, the rental division of UK test and measurement company MCS Test Equipment Ltd acquired Electro Rent UK. The acquisition of Electro Rent UK assets and rental business consolidated MCS’s already strong position in the UK T&M Rental marketplace. Electro Rent UK was an industry-recognized leader in test & measurement rental solutions and services. Read More.

Dialog Acquires Silicon Motion’s Mobile RF IC Business

Dialog Semiconductor signed a definitive agreement to acquire Silicon Motion Technology Corporation’s Mobile Communications product line, branded as FCI. FCI is the leader in Mobile TV SoCs in T-DMB (Terrestrial Digital Multimedia Broadcasting) and ISDB-T (Integrated Services Digital Broadcasting-Terrestrial), with RF tuner-demodulator SoC solutions for smartphones, tablets and automotive Portable Navigation Devices (PNDs). Read More.

Cubic Acquires RF Products Manufacturer Nuvotronics for $64 Million

Cubic Corporation announced the acquisition of Nuvotronics, a disruptive technology provider of micro-fabricated radio frequency (RF) products, for approximately $64 million in cash, subject to customary adjustments, with additional earn-out payments of up to $8 million based on future performance. With the acquisition, Cubic expects to accelerate multiple innovation initiatives across its protected communications portfolio and beyond, and to capture significant supply chain synergies. Read More.

Cree Sells its Lighting Business to Focus More on RF and Power

Cree announced that they will be selling their Lighting Products business unit (“Cree Lighting”), which includes the LED lighting fixtures, lamps, and corporate lighting solutions business for commercial, industrial and consumer applications, to IDEAL INDUSTRIES, INC. for approximately $310 million. Read More.

Renesas Receives Approval for Acquisition of IDT

Renesas Electronics, a premier supplier of advanced semiconductor solutions, announced final regulatory approval for the proposed acquisition of Integrated Device Technology (IDT). Both the companies announced that they received a notification by the Committee on Foreign Investment in the United States (CFIUS) on March 22, 2019 (PDT) and March 23, 2019 (JST), that the investigation of their proposed merger transaction is complete and there are no unresolved national security concerns with respect to the transaction. Read More.

ST Engineering Targets SATCOM Market with €250 Million Acquisition Offer for Newtec

Singapore Technologies Engineering (ST Engineering), through its European subsidiary wing, entered into a conditional share purchase agreement to acquire 100% ownership in Newtec Group NV, an established Belgium-based SATCOM solutions company. They offered €250 million (approximately Singapore $383m) on a cash-free and debt-free basis for the proposed acquisition, subject to closing adjustments. Newtec is a key technology provider in the satellite broadcast segment with unique ultra-high throughput capabilities and a strong presence in the European satcom market. Read More.

Rohde & Schwarz Acquires Camero-Tech’s Security Scanner Business

Rohde & Schwarz acquired the body scanning technology unit of the company Camero-Tech Ltd. With this acquisition, Rohde & Schwarz has grown its mm-Wave body scanning product portfolio and strengthened its position in the security market. Rohde & Schwarz created a new research & development company which is named "SeemPulse Ltd." to pursue this area. Read More.

NSI-MI Technologies Acquires RF Consultant and Equipment Supplier in the UK

NSI-MI Technologies, a leading Microwave Test and Measurement System provider announced the acquisition of Frequensys Limited. Frequensys is an RF consultant and equipment supplier based in Sheffield, United Kingdom. The company is now known as NSI-MI UK. It offers all NSI-MI system solutions, backed by a strong presence in the United Kingdom. Read More.

Mercury Acquires Syntonic Microwave & The Athena Group for $46 Million

Leading defense solutions company, Mercury Systems announced the complete acquisition of The Athena Group and Syntonic Microwave for a total value of $46 million. A privately-held company based in Gainesville, Fla., The Athena Group is a leading provider of cryptographic and countermeasure IP vital to securing defense computing systems. A world leader in differential power analysis (DPA) technology, they offer a complete portfolio of provable DPA-resistant solutions. Read More.

Soitec to Acquire EpiGaN Expanding Its Portfolio Across RF 5G and Power Markets

Soitec entered into a definitive agreement to acquire EpiGaN, a leading European supplier of GaN epitaxial wafer (epi-wafer) materials, for €30 Million in cash, plus an additional earn-out payment based on completion of certain milestones. EpiGaN’s GaN products are used primarily within RF 5G, power electronics, and sensor applications, with the total addressable market of GaN technologies estimated to be between 500,000 to 1M wafers per year within five years. Read More.

Amplitech to Acquire Specialty Microwave for $2 Million

Amplitech, a developer of custom and standard state-of-the-art RF components for the Commercial, SATCOM, Space, and Military markets signed an asset purchase agreement to acquire the business assets of Specialty Microwave Corp. (SMW), a privately held company based in Ronkonkoma NY. SMW operated in adjacent and upstream areas to AmpliTech and utilized their components in some of its subsystems. The transaction offered Amplitech the opportunity to move up the value chain with its customers by offering expanded products and solutions at higher average transaction values and margins. Read More.

Infineon to Acquire Cypress Semiconductor for €9.0 Billion

Infineon announced its plans to acquire leading embedded solutions company, Cypress Semiconductor, for an enterprise value of €9.0 billion (US $23.85/Share). With the addition of Cypress, Infineon consequently strengthened its focus on structural growth drivers and serve a broader range of applications. Cypress has a differentiated portfolio of micro-controllers as well as software and connectivity components that are highly complementary to Infineon’s leading power semiconductors, sensors and security solutions. Read More.

AGC Acquires Taconic’s RF Substrate Division

AGC announced completion of the acquisition of the Advanced Dielectric Division (ADD) and a portion of the Industrial Products Division (IPD) of US-based Taconic which was previously announced on February 19, 2019. With the acquisition of Taconic’s business, AGC reinforced its mobility-related and electronics-related business. Read More.

ON Semiconductor Completes Acquisition of Quantenna Communications

ON Semiconductor announced successful completion of its previously announced acquisition of Quantenna Communications for $1 Billion ($24.50 per share) in an all-cash transaction. The combination of Quantenna’s Wi-Fi technologies and ON Semiconductor’s reputation in power and analog semiconductors, coupled with the combined company’s broad sales and distribution reach, creates a formidable platform to address connectivity applications in industrial, automotive, and carrier markets. Read More.

Astronics Acquires Freedom Communication Technologies for $22 Million

Astronics Corporation, a provider of advanced technologies for global aerospace, defense, and other mission-critical industries, announced the acquisition of Freedom Communication Technologies (FCT) for $22 Million in cash. FCT is a developer and manufacturer of communication test equipment for the land-based mobile radio test market providing innovative solutions to Long-Term Evolution (LTE) high-speed wireless communications customers globally. Read More.

dB Control Acquires EW Solutions Expert, TTT-Cubed

dB Control announced the acquisition of TTT-Cubed (TTT), a leading designer and manufacturer of radio frequency receivers and sources. The acquisition of TTT added high-end frequency locked oscillators, integrated digital control units, RF sources, detectors and controllers to dB Control’s existing line of high-power TWT amplifiers (TWTAs), microwave power modules (MPMs) and high-voltage power supplies (HVPS) for defense and aerospace applications. Read More.

Qualcomm Strengthens RF Business by Acquiring RF360 Holdings

Qualcomm completed the acquisition of RF360 Holdings Singapore, a joint venture with TDK Corporation. The joint venture produced RF front-end (RFFE) filters which enabled Qualcomm to deliver complete 4G/5G RFFE solutions. With this acquisition, Qualcomm is able to provide customers a complete end-to-end solution from modem to antenna, the Qualcomm Snapdragon 5G Modem-RF System, including the first commercial 5G NR Sub-6 GHz and mmWave solutions, integrating power amplifiers, filters, multiplexers, antenna tuning, LNAs, switching and envelope tracking products. Read More.

Avnet Acquires Witekio to Boost Software and IoT Capabilities at Device Level

Avnet, a technology solutions provider that delivers design, product, marketing and supply chain expertise, signed an agreement to acquire Witekio (formerly known as Adeneo Embedded). Witekio is a privately held company with expertise in software and embedded systems that help developers overcome the technical challenges and complexity of developing Internet of Things (IoT) solutions. This announcement strengthened Avnet’s end-to-end IoT strategy by adding more capabilities and expertise in embedded software, edge computing and security, specifically from hardware to the cloud. Read More.

Ericsson Acquires Kathrein’s Antenna & Filter Division

Ericsson completed the acquisition of the Antenna and Filter Division of Kathrein, a Germany-based provider of antenna and filter solutions. The closing followed Ericsson’s announcement made back in February 2019 to acquire the division of Kathrein. Ericsson is now looking to providing its customers a broadened Ericsson Radio System offering. In addition to expanding Ericsson's portfolio of antenna and filter products, the acquisition brings vital competence necessary to evolve radio access products. Read More.

Qorvo Acquires RF MEMS Technology Expert, Cavendish Kinetics

Qorvo announced the acquisition of Cavendish Kinetics Inc, a leading provider of RF MEMS technology for antenna tuning. Cavendish Kinetics is the leading provider of high-performance RF MEMS components smartphones, mobile infrastructure, IoT and defense. The Cavendish Kinetics (CK) team now continues to advance RF MEMS technology for applications across Qorvo’s product lines and transition the technology into high-volume manufacturing for mobile devices and other markets. Read More.

Dialog Semiconductor Acquires Creative Chips to Scale its IIoT Products Offering

Dialog Semiconductor announced the acquisition of Creative Chips GmbH, a supplier of ICs for the Industrial Internet of Things (IIoT) market. The acquisition was funded from Dialog’s balance sheet for a cash payment of approximately $80 million, with an additional contingent consideration of up to $23 million, based on future revenue targets in 2020 and 2021. The acquisition was strategic for Dialog to establish itself as a proven supplier, well-positioned to capture the significant growth potential of the Industrial IoT market. Read More.

Microdata Telecom Acquires Kaelus from Infinite Electronics

Microdata Telecom, a supplier of high-quality RF Conditioning solutions, acquired the Kaelus business from Infinite Electronics, Inc. Kaelus and Microdata Telecom had a 3-year history of collaboration and joint business interests, and share a culture that emphasizes innovation, flexibility, and performance. Kaelus brought with itself strong engineering capabilities, world-class manufacturing operations, a diversified set of products, strategic customer relationships with many of the world’s largest telecom operators and is poised for future growth. Read More.

RF Industries Announces Acquisition of Schroff Technologies

Interconnect products and systems expert, RF Industries, announced the acquisition of Schroff Technologies International, a privately owned Rhode Island-based manufacturer of products serving the high growth wireless, telecom, and cable markets. Schrofftech’s product offerings ally with RF Industries’ focus on the 5G small cell market and feature significant growth opportunities in market over the next several years. Schroff primarily serves the high growth wireless, telecom and cable markets. Read More.

Marvell Acquires Avera to Better Serve the 5G and Automotive Sectors

Marvell acquired Avera Semiconductor, the Application Specific Integrated Circuit (ASIC) business of GLOBALFOUNDRIES. After working capital adjustments, the net deal consideration of approximately $600 million was funded by a short-term bridge loan. By combining Marvell's advanced technology platform and scale with Avera's custom design capabilities, Marvell is now able to offer the complete spectrum of semiconductor solutions spanning 5G, data center, enterprise, and automotive applications. Read More.

Wireless Telecom Group to Acquire Holzworth Instrumentation for $10 Million

The Wireless Telecom Group signed a definitive agreement to acquire Holzworth Instrumentation, a Boulder, Colorado-based provider of specialty phase noise analyzers and signal generators for $10 Million. Holzworth instruments are used by government labs, the semiconductor industry, and network equipment providers, among others, in research and automated test environments. The merger enabled the Wireless Telecom Group to develop test solutions for future wireless technologies in radar, satellite communications and 5G. Read More.

HUBER+SUHNER Acquires the BKtel Group for EUR 48 Million

The acquisition of BKtel by Huber+Suhner was completed on 3 December 2019. The acquisition was financed exclusively from Huber's own funds. BKtel develops, manufactures and implements active and passive components for broadband networks and has extensive expertise in fiber-to-the-home (FTTH), hybrid fiber coax (HFC) and distributed access architecture (DAA) as well as optical signal processing. BKtel’s activities were integrated into the HUBER+SUHNER Fiber Optics technology segment. Read More.

GCG Acquires Manchester-Based Passive Components Company

Gowanda Components Group (GCG) announced the acquisition of RCD Components. RCD is a, Manchester, New Hampshire-based manufacturer of passive components – including resistors, capacitors, coils and delay lines – for the commercial, military and aerospace industries. This is the ninth acquisition for GCG within the last seven years. The addition of RCD expanded the breadth of GCG’s passive component offerings to the electronic design community and enhances passive technology capabilities. Read More.

Blue Canyon Technologies Acquires a Company to Vertically Integrate its Antenna Development

Small satellite manufacturer and mission services provider, Blue Canyon Technologies (BCT), acquired Antenna Development Corporation (AntDevCo), an antenna manufacturer. As a vertically integrated company, the acquisition played a key role in BCT incorporating antennas into their design and manufacturing capabilities portfolio. Prior to the acquisition, BCT was a primary customer for AntDevCo, procuring more than 60 antennas, 11 of which are currently on-orbit on 5 different spacecraft. The easily customizable, compact antennas will be designed in-house for use on future small satellite builds. Read More.