Wolfspeed completes the sale of its RF business
Wolfspeed's radio frequency business (Wolfspeed RF) is now in the hands of MACOM Technology Solutions.
On December 2, Wolfspeed completed the sale of its RF business to MACOM. Under the transaction terms, Wolfspeed received approximately USD 75 million in cash and 711,528 shares of MACOM common stock, which shares had a market value of approximately USD 60.8 million.
“The completed sale of Wolfspeed RF is the final step in our transformation, and we’re happy to say Wolfspeed is now the only pure-play silicon carbide semiconductor manufacturer in the industry,” says Gregg Lowe, Wolfspeed president and CEO, in a press release. “As demand continues to accelerate across the automotive, industrial and renewable energy markets, we can now focus on innovation and capacity for our materials and power device businesses.”
Wolfspeed will now continue to focus on the industry transition to silicon carbide (SiC) with its ongoing capacity expansion, including the final build-out of the company’s Mohawk Valley Fab in New York, and the construction of the John Palmour Manufacturing Center, which will be the world’s largest silicon carbide materials factory in Siler City, North Carolina. The multi-billion-dollar facility is targeted to generate a more than 10-fold increase from the company's current silicon carbide production capacity on its Durham, North Carolina campus.