Sivers Semiconductors completes acquisition of MixComm
Sivers Semiconductors AB has officially completed its previously announced acquisition of MixComm Inc. aiming to strengthen its position in 5G, SATCOM and Radar markets.
With the acquisition, Siver greatly increases its customer base, expands its capacity, and gets access to a broad IP portfolio and a strong presence across the US, Europe and Asia.
The selling shareholders of MixComm include its founders, employees, Kairos Ventures (a US venture capital investor) and GlobalFoundries. Kairos will become a significant shareholder in Sivers after the completion of the acquisition. Todd Thomson, Chief Operating and Financial Officer of Kairos Ventures, has also joined the board of directors of Sivers, a press release reads.
MixComm will be part of the Sivers Wireless business area within Sivers Semiconductors. Overall, the new expanded group is expected to create conditions for accelerated growth.
Through the merger, Sivers Wireless will increase its total number of design wins by about 70% to 44 and double the number of design wins that are expected to enter volume production within the next 12 months, from eight to 16 in total. MixComm currently has 18 design wins, including a design win with a leading Tier 1 5G infrastructure customer and a significant pipeline of potential new customer opportunities.
"It is very gratifying that we have now received regulatory approval from The Committee on Foreign Investment in the United States (CFIUS) to complete this transaction. We have seen very good progress within MixComm since we agreed the deal last October and are now looking forward to starting to deliver the very significant synergy benefits that we see from the combination," says Anders Storm, Group CEO of Sivers Semiconductors, in the press release