Sivers Semi is gearing up for growth – acquires MixComm
Swedish technology company, Sivers Semiconductors, is looking to take pole position 5G mmWave semiconductors, and the company is taking a major step with the acquisition of US-based mmWave challenger, MixComm Inc.
Sivers Semiconductors will acquire the US-based fabless semiconductor company for USD 135 million. The consideration will be paid through a combination of USD 22.5 million in cash and USD 112.5 million in newly issued Sivers shares. In addition, there is a performance-based earn-out of up to USD 20 million to be paid in new Sivers shares if certain commercial customer milestones are achieved, the Swedish company disclose in a press release. Following the completion, the enlarged Sivers group will become a force to be reckon with in 5G mmWave semiconductors, with strong capabilities and a broad joint IP portfolio of RFIC/BFIC (radio frequency/beam forming integrated circuits) chipsets in a wide variety of mmWave semiconductor technologies, including SiGe (Silicon Germanium) and RF-SOI (RF silicon-on-insulator). Driven by the exponential growth of the wireless connectivity and telecommunications sectors, the semiconductor industry is undergoing a significant technology-based transformation. This is supporting the deployment of new technologies such as the implementation of 5G connectivity, providing opportunities to reach new levels of efficiency and customer value. Founded in 2017, MixComm is headquartered in Chatham, New Jersey and has design centres in Oregon and California. It is an active US participant in the 5G BFIC (repeaters/base stations), SATCOM and radar verticals. The transaction is expected to be completed by mid-Q1 2022. “We have worked closely with the MixComm team to finalize this acquisition and it has been a great pleasure getting to know many of the team members. MixComm has in a short time period been able to build a very impressive customer list as well as sales funnel. MixComm and Sivers have the same philosophy when it comes to building partnerships within the mmWave eco-system and by adding these eco-systems together we will create an even greater combined entity. I would like to welcome MixComm into the Sivers family and look forward to executing on all the exciting plans we have together,” says Anders Storm, Group Chief Executive Officer of Sivers in the press release. “Sivers and MixComm share a vision for mmWave’s impact and potential. Combining with Sivers will accelerate that impact and amplify that potential. The MixComm team is proud of what we have achieved and excited where we will go now as part of the Sivers family,” adds Mike Noonen, Chief Executive Officer of MixComm.