Mergers & Acquisitions in 2022

Mergers & Acquisitions in 2022

The business world is constantly evolving, and one of the most significant ways that companies can adapt and grow is through mergers and acquisitions. In 2022, we've seen a number of significant mergers take place in the RF & Microwave Industry. From tech giants joining forces to smaller companies coming together to form a new powerhouse, these mergers have the potential to shake up the market and change the way we do business. Here at everything RF, we've compiled a list of the most notable mergers and acquisitions in the RF & Microwave Industry in 2022.

Wireless Telecom Group Sells CommAgility to E-Space for $14.5 Million

The Wireless Telecom Group announced that it has entered into a definitive agreement to sell its radio, baseband, and software segment, CommAgility, to E-Space. E-Space is a global space company that is focused on bridging Earth and space with the world’s most sustainable network. The purchase price of $14.5 Million, consists of $13.75 million in cash and a $750,000 note payable, subject to agreed-upon reductions. Read more  

Infinite Electronics Signs Agreement to Acquire Cable Connectivity Group

Infinite Electronics, a leading global supplier of electronic components serving the needs of customers through a family of highly recognized and trusted brands, has signed a definitive agreement to acquire Cable Connectivity Group (CCG) from Torqx Capital Partners (Torqx) and TKH Group NV (TKH). The transaction is subject to customary regulatory approval and is expected to close in Q1 2023. Read more.

MVG Acquires Singularis Solutions, a Philadelphia-Based Electromechanical Engineering Firm

Microwave Vision Group (MVG), a global service provider in antenna measurements, radar, and RCS testing solutions has acquired Singularis Solutions, an electro-mechanical engineering firm based in Philadelphia which specializes in the design, integration, manufacturing, and testing of complex systems.

The two companies had collaborated on several projects over the years which not only supported the decision well but also led to a quick and smooth acquisition process. Read more.

Renesas Electronics Completes Acquisition of Steradian to Expand its Automotive Radar Portfolio

Renesas, a supplier of advanced semiconductor solutions, announced that it has completed the acquisition of Steradian Semiconductors Private Limited (“Steradian”), a fabless semiconductor company providing 4D imaging radar solutions.

Headquartered in Bengaluru, India, Steradian is a start-up founded in 2016 and provides radar solutions that enable highly accurate object recognition and power efficiency in a small chip. Read more.

MUEGGE Enters Italy with the Acquisition of LEANFA

MUEGGE, a manufacturer of microwave and plasma technology, is expanding into Italy with the acquisition of LEANFA, an Italian manufacturer of solid-state microwave and high-frequency generators. Following the successful acquisition of Gerling Applied Engineering, based in Modesto, California, USA in 2015, the leap into Italy is the next milestone in the Germany-based MUEGGE Group's international growth strategy. Read more.

Qnnect Acquires Connectronics, a Designer and Manufacturer of RF Connectors

Qnnect, a portfolio company of Arcline Investment Management ("Arcline") has announced the acquisition of Connectronics, a designer and manufacturer of RF connectors. Qnnect now brings together Connectronics with Meritec, Joy Signal Technology, and Custom Interconnects.

Founded in 1985, Connectronics designs and manufactures high-performance RF and Microwave connectors and adapters for Aerospace, Telecom, Military, Test and Measurement, and Medical applications. Read more.

MtronPTI Separates from The LGL Group to Become an Independent, Publicly Traded Company

MtronPTI announced that it has completed its previously announced separation from The LGL Group and is now an independent, publicly traded company. MtronPTI shares will begin trading today on the New York Stock Exchange under the ticker symbol “MPTI.

“Today marks an exciting milestone as we embark on our journey as a newly independent public company, focused on world-class microwave and RF products,” said Michael Ferrantino, Chief Executive Officer of MtronPTI. Read more.

Trexon Acquires Intelliconnect, a Leading Supplier of RF Interconnect Solutions

Trexon, a portfolio company of Audax Private Equity, announced that it has completed the acquisition of Intelliconnect, a supplier of RF connectors, adapters, and cable assemblies. Founded in 2003 and based in Chelmsford, UK., Intelliconnect has grown rapidly since its inception, becoming a market leader in design-led RF (radio frequency) components.

Regarding the addition of Intelliconnect to the Trexon team, Mark Twaalfhoven, President, and Chief Executive Officer of Trexon stated, “The addition of Intelliconnect brings a customer-centric organization with a level of expertise and experience that aligns with the Trexon strategic vision of delivering application-specific solutions. Read more.

Antenna Research Associates Acquires SI2 Technologies

Antenna Research Associates (ARA) has acquired SI2 Technologies. SI2 Technologies, founded in 2003, is a leading designer and manufacturer of electromagnetic systems for military, government, and commercial platforms constrained for space, weight, and power. The newly acquired company will operate as a wholly-owned subsidiary of ARA and will be known as SI2 Technologies, an ARA company. SI2 Technologies will remain at its Billerica, MA location, collaborating with ARA across various locations in the US in Maryland, Massachusetts and New Hampshire, and Europe. Read more.

HARMAN Acquires Israel-Based In-Cabin Radar Sensing Company

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer, and enterprise markets, has announced the acquisition of CAARESYS, an Israel-based company founded in 2017 that develops vehicle passenger monitoring systems powered by contactless, low-emission radars. CAARESYS has successfully partnered with leading OEMs and provides a mass production solution for cabin monitoring including vital signs sensing, passenger localization, and Child Presence Detection (CPD). Read more.

Naprotek Acquires Manchester-Based MicroFab to Expand RF Products, Services, and Solutions

Naprotek, a leading provider of high-reliability, quick-turn electronics manufacturing, has completed the acquisition of MicroFab, a privately held company in Manchester, New Hampshire. This acquisition is a strategic element of Naprotek's continued expansion in RF products, services, and solutions. Naprotek now offers customers an array of custom build-to-print thin film products, supported by enhanced capabilities and a wider spectrum of thin-film technologies. The business and entire MicroFab team will be integrated into the East Coast operations at SemiGen, a Naprotek Company. Read more.

Intel to Acquire Tower Semiconductor for $5.4 Billion

Intel Corporation and Tower Semiconductor, a leading foundry for analog semiconductor solutions, have announced a definitive agreement under which Intel will acquire Tower for $53 per share in cash, representing a total enterprise value of approximately $5.4 billion. The acquisition significantly advances Intel’s IDM 2.0 strategy as the company further expands its manufacturing capacity, global footprint, and technology portfolio to address unprecedented industry demand.

“Tower’s specialty technology portfolio, geographic reach, deep customer relationships, and services-first operations will help scale Intel’s foundry services and advance our goal of becoming a major provider of foundry capacity globally,” said Pat Gelsinger, Intel CEO. Read more.

Semtech to Acquire Sierra Wireless for $1.2 Billion

Semtech Corporation, a leading global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms, has announced a definitive agreement to acquire  Sierra Wireless for $1.2 Billion. Sierra Wireless is a world-renowned Internet of Things (IoT) solutions provider. Semtech will acquire all outstanding shares of Sierra Wireless for US$31 per share in an all-cash transaction representing a total enterprise value of approximately US$1.2 billion, subject to customary closing conditions. Read more.

Arcline Acquires Customs Interconnects to form Qnnect

Arcline Investment Management (“Arcline”) has announced the acquisition of Custom Interconnects LLC (“Custom Interconnects”) and the formation of Qnnect LLC (“Qnnect”), a specialty interconnects platform aimed at solving critical connectivity challenges in high-performance applications. Qnnect brings Custom Interconnects together with Meritec and Joy Signal Technology.

Custom Interconnects designs and manufacturers Fuzz Buttons, a high-performance, proprietary contact pin technology enabling critical applications within the aerospace, defense, and semiconductor industries. Read more.

Safran Acquires Orolia to Become a World Leader in Resilient PNT Solutions

After an exclusive negotiation process that began in December 2021, Orolia a company recognized globally for its positioning, navigation, and timing (PNT) and related activities, technologies, and equipment joins Safran Electronics & Defense, the European leader and world number three in inertial navigation systems.

Orolia employs more than 435 people in Europe and North America and has revenues of around €100 million. Its solutions include atomic clocks, time servers, simulation and resilience equipment for GNSS signals, as well as emergency locator beacons for commercial aviation and military applications. Read more.

TE Acquires Linx Technologies to Further Grow its Antenna Business

Linx Technologies (“Linx”) announced that they have been acquired by TE Connectivity Ltd. ("TE"). TE is a global industrial technology leader creating a safer, sustainable, productive, and connected future. TE's broad range of connectivity and sensor solutions, proven in the harshest environments, enable enhancements in transportation, industrial applications, medical technology, energy, data communications, and the home. With more than 85,000 employees, including over 8,000 engineers working alongside customers in approximately 140 countries, TE ensures that every connection counts. Read more.

TTM Acquires Telephonics Corporation for $330 Million

TTM Technologies, announced that it has completed the previously announced acquisition of Telephonics Corporation (“Telephonics”) from Griffon Corporation for approximately $330 million in cash. Telephonics, founded in 1933, is recognized globally as a leading provider of highly sophisticated intelligence, surveillance, and communications solutions that are deployed across a wide range of land, sea, and air applications. The transaction significantly broadens TTM’s Aerospace and Defense product offering vertically into higher-level engineered system solutions and horizontally into surveillance and communications markets while strengthening its position in radar systems. Read more.

Trive Capital Acquires Custom Microwave, Inc. and Merges it with Vitesse Systems

Trive Capital has announced that it has acquired Custom Microwave, Inc. (CMi), which will join the Vitesse Systems platform. Vitesse Systems was launched in 2018 following the acquisition of California Brazing. The platform is focused on mission-critical assemblies that enable the advancement of communication, radar and electronic warfare systems.

CMi is a leading provider of high-performance passive antennas that are engineered for critical space and ground applications. Read more.

Quantic Electronics Acquires Microwave Dynamics

Quantic Electronics has announced the acquisition of Microwave Dynamics, a leader in high-precision microwave and millimeter wave components. Founded in 1993, Microwave Dynamics designs and manufactures free-running and phase-locked oscillators, amplifiers, frequency converters, and frequency multipliers for aerospace, defense, and industrial markets.

With applications for land, sea, air, and space, 100% of Microwave Dynamics' products are produced in the United States and designed to perform under extreme environmental conditions, such as intense shock vibration and high-temperature variance. Read more.

Quantic Electronics Adds Eulex Components to its Portfolio

Quantic Electronics ("Quantic"), a portfolio company of Arcline Investment Management ("Arcline"), has announced the addition of the capacitor technology of Eulex Components, Inc. ("Eulex"), a leader in the design, development, and manufacture of ceramic capacitor components, to its suite of product offerings.

Founded in 2019, Eulex is focused on producing the highest performing, highest quality ceramic capacitors for the most demanding high-frequency, microwave, millimeter-wave, and 5G applications. Read more.

Valmont and Ericsson Acquire ConcealFab to Accelerate Growth and Innovation in the Global Telecom Market

Valmont Industries, a global leader that provides vital infrastructure and advances agricultural productivity while driving innovation through technology, announced the closing of its previously-announced agreement to acquire a majority interest in ConcealFab, an industry leader in 5G infrastructure and passive intermodulation (PIM) mitigation solutions. Ericsson, a global leader in 5G technology, has also reinvested their ConcealFab equity and holds a minority position in ConcealFab. Read more.

RFMW Acquires Spantech, a Leading European Distributor

RFMW, a specialized distributor of RF and microwave products, has acquired Spantech Technology Solutions S.L.U, a leading distributor for RF & Microwave components in Europe. Spantech represents industry-leading manufacturers of RF, microwave, millimeter-wave components, and satellite communication equipment in Spain and Portugal. The agreement fortifies RFMW’s international presence and enhances its prominent position as a global and technically competent sales and marketing organization.

“We are excited about this agreement with RFMW,” comments Michael Chadwick, Director of Spantech Microwave Technology. Read more.

Ripley Tools Acquires Antenna Alignment Solutions Provider Based in Ontario, Canada

Ripley Tools has announced its acquisition of Canadian technology company Multiwave Sensors (Bolton, Ontario, Canada). Multiwave Sensors is a rapidly growing business with advanced solutions for GPS directional and position measurement used in wireless antenna installation and other markets. It is one of the largest suppliers of antenna alignment solutions based on precise GPS measurements of azimuth, height, and tilt to align radio transmitters for cellular service. The company’s ‘Smart Aligner’ technology has become a standard solution for tower climbers worldwide. Read more.

Micross Acquires PAAL Technologies to Expand its High-Rel Microelectronics Portfolio

Micross Components ("Micross"), a leading provider of high-reliability microelectronic product and service solutions for aerospace, defense, space, medical, energy, industrial and other applications has announced the acquisition of PAAL Technologies ("PAAL"), a leading provider of MIL-STD-1553 Data Bus Couplers, Harnesses and RF/Wideband Transformers. The acquisition further expands the Hi-Rel Components portfolio of Micross, while providing customers of PAAL with single-source access to the most complete offering of end-to-end advanced microelectronic services and component, die and wafer solutions. Read more.

CPI Acquires Adamworks to Expand its Radome Business

The Radant Technologies Division of Communications & Power Industries has completed the acquisition of AdamWorks, a design engineering and manufacturing company based in Centennial, Colorado that specializes in composite structures for business and commercial aviation, manned and unmanned systems, and space and defense applications.

The acquisition is expected to complement CPI's existing radome business by expanding its airborne product line to include new types of products, materials, and technologies. Read more.

Summit Interconnect Acquires Royal Circuit Solutions and Advanced Assembly

Summit Interconnect has announced the acquisition of Royal Circuit Solutions with California operations in Hollister and Santa Ana and affiliate Advanced Assembly located in Aurora, Colorado. The acquisition expands Summit’s PCB offering in rigid, flex, rigid/flex and ATE PCBs, significantly strengthens engineering and service resources providing CAM, DFM/A, PCB design/layout, and also adds quick-turn, prototype SMT assembly services.

The combined company will provide best-in-industry use of software applications that integrate and automate engineering, stack-ups, quoting, production management and customer interface. Read more.

Toulouse Court Appoints UnaBiz as the New Owner of Sigfox Singapore and France

The Commercial Court of Toulouse announced the appointment of UnaBiz, a massive IoT service provider and Sigfox Operator for Singapore and Taiwan, as the new owner of Sigfox. The results of the receivership proceeding for Sigfox and its subsidiary Sigfox France SAS were unanimous, with UnaBiz endorsed as the best offer among nine initial bidders by the Jury, Administrators, the Public Prosecutor, Sigfox SA, Sigfox France SAS, and Sigfox Employee Representatives.

Over the next few weeks, the Administrators, Sigfox Management, and Employee Representatives will work alongside UnaBiz to ensure a smooth transition of ownership to Sigfox’s existing commercial activities. Read more.

Mobix Labs to Acquire Advanced Interconnect Technologies

Mobix Labs Inc., a global connectivity solutions provider for wireless mmWave 5G and wired high bandwidth cable networks has signed a definitive agreement to acquire Advanced Interconnect Technologies (AIT), a St. Cloud, Minnesota-based manufacturer and product development firm serving the military, defense, and commercial air and space industries. The terms of the deal were not disclosed.

“We are very excited about adding Advanced Interconnect Technologies to our growing company,” said Fabian Battaglia, CEO of Mobix Labs. Read more.

Foxconn Acquires arQana’s Wireless Telecommunications Business, to Operate Under Brand Name “iCana”

arQana Technologies and Hon Hai Technology Group, (“Foxconn”) announced the completion of the acquisition of arQana’s Wireless Telecommunications business, and a merger with AchernarTek, to enable the birth of a global RF semiconductor component supplier, with the intent to support Foxconn and third-party customers in the Wireless Telecommunications markets, including applications in Automotive and 5G Infrastructure.

This business transaction is a positive accomplishment for all the parties involved. Read more.

Murata Completes the Acquisition of Resonant

Murata Manufacturing has completed the acquisition of Resonant, a leading company in RF filter design. They announced their intention to acquire the company for $295 Million in Feb 2022.

Murata Manufacturing is an established global leader in the electronics industry. The company prides itself on having built trusted relationships with customers in the capacitor and communication technology markets. As a result, Murata has a significant market share for multiple electronic components, such as SAW filters for communications, which represents a 50 percent global market share. Read more.

Integra Technologies Acquires Presto Engineering's US-Based Test Equipment and Assets

Integra Technologies has purchased Presto Engineering's US-based test assets. Integra and Presto have been working together over the last few years at Integra's Silicon Valley facility to service customers in high-speed RF testing and reliability up to 67 GHz. Recently, Presto has decided to focus its capital investments on test and back-end services for Europe and worldwide ASIC semiconductor services, giving Integra the opportunity to provide continuity of services to its US-based, test production customers. In doing so, Integra has purchased Presto's equipment, hired some of its staff, and acquired Presto's US-based customers. Read more.

Leonardo DRS to Sell its SATCOM Global Enterprise Solutions Unit to SES for $450 Million

Leonardo DRS has announced that it has signed a definitive agreement to sell its Global Enterprise Solutions (GES) business to SES for $450 million. The transaction has been approved by the boards of directors of Leonardo DRS and of SES. The finalization of the deal is targeted for the second half of 2022 subject to regulatory approvals.  

“The DRS GES business is well-respected by its customers and within the satellite communications (SATCOM) provider services market, and we are very pleased with the agreement reached with SES,” said Bill Lynn, CEO of Leonardo DRS. Read more.

Lucix Acquires Flight Microwave to Provide Comprehensive Range of Space-Qualified Satellite Filters

Lucix, a subsidiary of HEICO Corporation, announced that it has acquired Flight Microwave in an all-cash transaction. Financial terms of the deal were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings in the year following the purchase.

Founded in 2004, Flight Microwave is a leading designer and manufacturer of world class custom high-power filters and filter assemblies used in space and defense applications. Among Flight Microwave's most recognized products are the high power, space-borne filter payload assemblies used on the Global Positioning System's ("GPS") GPS III program as well as other key US Government satellite payloads. Read more.

ASM Completes Acquisition of Reno Sub-Systems

ASM International N.V. has announced that it has acquired Reno Sub-Systems, a supplier of RF matching sub-systems for semiconductor manufacturing equipment. ASM International N.V. is headquartered in Almere, the Netherlands. Its subsidiaries design, manufacture equipment, and process solutions to produce semiconductor devices for wafer processing and have facilities in the United States, Europe, and Asia.

Reno designs and sells innovative RF matching sub-systems and is based in New Jersey, the US. Reno's high-performance RF matching networks and RF generators will enhance ASM’s plasma products and solutions. Read more.

KYOCERA AVX to Acquire ROHM Semiconductor's Tantalum and Polymer Capacitor Business Portfolios

KYOCERA AVX, a leading global manufacturer of advanced electronic components engineered to accelerate technological innovation and build a better future, is set to acquire ROHM Semiconductor’s tantalum and polymer capacitor business assets. The two companies recently reached a final agreement, which states that ROHM Semiconductor will transfer its tantalum and polymer capacitor business assets — including all of its tantalum and polymer capacitor manufacturing lines and relevant intellectual property — to KYOCERA AVX. The transfer is scheduled to be executed on August 5, 2022, and ROHM will continue to produce tantalum and polymer capacitor products and supply them to KYOCERA AVX until all relevant production lines have been successfully transferred to the KYOCERA AVX manufacturing site. Read more.

RF Industries Completes Acquisition of Microlab for $24.5 Million

RF Industries, a national manufacturer and marketer of interconnect products and systems, has completed its previously announced acquisition of Microlab, the radio frequency components business of Wireless Telecom Group.

Robert Dawson, President, and CEO of RF Industries commented, "We are excited about the significant opportunity this acquisition creates to innovate and drive a more powerful product roadmap for our combined company and welcome Microlab's talented employees and customers to RF Industries. Microlab brings us access to a new set of high-performance, network operator-approved products that we can sell to our growing customer base and through our extensive distribution channel. Read more.

Kratos Defense & Security Solutions Acquires RF Power Amplifier Company, CTT Inc.

US-based Kratos Defense & Security Solutions announced the acquisition of CTT and Cosmic Advanced Engineered Solutions (Cosmic AES). According to reports, they acquired both these companies for approximately $60 million. Details of the transaction have not yet been released. 

Headquartered in San Jose, California, CTT makes power amplifiers, frequency converters, transmitters, and other electronic devices used in jammers, missiles, radars, unmanned aircraft, and other military systems. The CTT website is no longer operational and has a placeholder that states the company has been acquired by Kratos. Read more.

Sivers Semiconductors Completes Acquisition of MixComm

Sivers Semiconductors has completed the previously announced acquisition of MixComm to strengthen its position in 5G, SATCOM, and Radar markets for current and future high-frequency mmWave products. The acquisition provides a greatly increased customer base, expanded capacity, a broad IP portfolio, and a strong presence across the US, Europe, and Asia.

The purchase price of $135 Million for the acquisition has been satisfied through a cash payment of USD 22.5 million (approximately SEK 212 million at the current exchange rate), and the issuance of 39,187,320 new ordinary shares in the Company, corresponding to a dilution of approximately 18.3 percent (based on the number of shares in issue after completion). Read more.

AMD Completes Xilinx Acquisition to Expand Computing, Graphics and Adaptive SoC Product Portfolios

AMD has announced the completion of its acquisition of Xilinx in an all-stock transaction. The acquisition, originally announced in October, 2020, will create a high-performance and adaptive computing leader with a significantly expanded scale and the strongest portfolio of leadership computing, graphics, and adaptive SoC products. AMD expects the acquisition to be accretive to non-GAAP margins, non-GAAP EPS, and free cash flow generation in the first year.

“The acquisition of Xilinx brings together a highly complementary set of products, customers, and markets combined with differentiated IP and world-class talent to create the industry’s high-performance and adaptive computing leader,” said AMD President and CEO Dr. Lisa Su. Read more.

Narda-MITEQ Completes the Acquisition of Intelligent RF Solutions

Narda-MITEQ, has acquired Intelligent RF Solutions (iRF). iRF is a market leader in the design, engineering, and manufacturing of RF and microwave systems and subsystems for mission-critical military and intelligence community applications. The Company specializes in wideband, high frequency products for signals intelligence ("SIGINT"), electronic intelligence ("ELINT"), and electronic warfare ("EW") functions. With a legacy dating back to 1962, the Company employs approximately 50 individuals based in its facility in Sparks, Maryland. iRF represents the first add-on acquisition completed by Narda-MITEQ under JFLCO's sponsorship and will continue to be led by the current iRF management team. Read more.

Joby Completes Acquisition of Austrian Radar Developer Inras GmbH

Joby Aviation, a California-based company developing all-electric aircrafts for commercial passengers has announced the acquisition of Inras GmbH, a leader in radar system design based in Linz, Austria.

Co-founded by Andreas Haderer and Andreas Stelzer, the five-person team brings academic and commercial leadership in the design of radiofrequency (RF) systems, processing boards, real-time signal processing, and advanced radar sensors. Stelzer is Chair of Johannes Kepler University’s renowned RF-Systems Department, where he has been a professor since 2011. Read more.

Leonardo Acquires 25.1% in HENSOLDT

Leonardo has completed the acquisition of 25.1% of HENSOLDT, a leading German player in the field of sensors for defense and security applications, with an expanding portfolio in sensors, data management, and robotics, for € 606 million. The shares were acquired from Square Lux Holding II S.à r.l., a portfolio company controlled by funds advised by Kohlberg Kravis & Roberts & Co. L.P.

This transaction is a step towards helping achieve Leonardo’s strategic objective of acquiring a leadership position in the European Defence Electronics market, as defined by the "Be Tomorrow - Leonardo 2030" Plan, and reflects Leonardo's determination to play an active role in the consolidation process underway, also in the light of future cooperation programs in continental Europe. Read more.

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