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Components | April 07, 2011

Gennum acquires Bristol-based Nanotech Semiconductor

Gennum Corporation has acquired Bristol (UK) based Nanotech Semiconductor Limited, a fabless IC company specializing in advanced CMOS mixed-signal ICs for fiber optic communications.
This acquisition, pursuant to which Gennum paid USD$34 million in cash and agreed to an earn-out as described below, further strengthens Gennum's growth strategy in the optical transceiver IC market by adding state-of-the-art CMOS products and technology for high volume applications such as Ethernet, PON, telecom and consumer optics.

Under the transaction, Gennum acquired all of the outstanding shares of Nanotech at a purchase price of USD 34 million plus an amount of up to USD 6 million payable under an earn-out for the achievement by Nanotech of revenue targets over the next 12 months between USD 10 million and USD 14 million.

"We are excited to join Gennum and create one of the industry's most compelling optical IC transceiver portfolios," said Gary Steele, Founder, CEO and Chairman of the Board of Nanotech. "By integrating our recognized expertise in low cost, high performance CMOS based optical products and technologies and talented employees with Gennum's high speed optical products and global organization, customers will gain access to a uniquely comprehensive portfolio and product roadmap."
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