M/A-COM Technology Solutions Holdings, Inc. (NASDAQ: MTSI)
(MACOM), a leading supplier of high-performance analog RF,
microwave, millimeterwave and photonic semiconductor products,
today announced that it has successfully completed its previously
announced acquisition of FiBest Limited (FiBest), a Japan-based
merchant market component supplier of optical sub assemblies, in an
all-cash transaction valued at approximately $60 million.
John Croteau, President and Chief Executive Officer of MACOM
stated, “With the close on our acquisition of FiBest, we believe we
are now better positioned to enhance the strategic value we deliver
to customers by providing all of the technology, products and
packaging to further extend MACOM’s preeminent position as a
leading supplier of optical networking components. This transaction
also significantly expands our addressable market in data centers
for 100G data rates and beyond, while further unlocking a robust
sales channel for MACOM in an estimated $500 million RF and
microwave component market in Japan.”
MACOM funded the purchase price of the FiBest acquisition with
cash on hand.
About MACOM:M/A-COM Technology Solutions Holdings, Inc.
(www.macom.com) is a leading supplier of high-performance analog
RF, microwave, millimeterwave and photonic semiconductor products
that enable next-generation Internet and modern battlefield
applications. Recognized for its broad catalog portfolio of
technologies and products, MACOM serves diverse markets, including
high speed optical, satellite, radar, wired and wireless networks,
automotive, industrial, medical and mobile devices. A pillar of the
semiconductor industry, we thrive on more than 60 years of solving
our customers' most complex problems, serving as a true partner for
applications ranging from RF to Light.
Headquartered in Lowell, Massachusetts, MACOM is certified to
the ISO9001 international quality standard and ISO14001
environmental management standard. MACOM has design centers and
sales offices throughout North America, Europe, Asia and
Australia.
MACOM, M/A-COM, M/A-COM Technology Solutions, M/A-COM Tech,
Partners in RF & Microwave, Partners from RF to Light, The
First Name in Microwave and related logos are trademarks of MACOM.
All other trademarks are the property of their respective
owners.
Special Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements based on
MACOM management's beliefs and assumptions and on information
currently available to our management. Forward-looking statements
include, among others, statements concerning the FiBest
transaction, including those regarding any potential benefits and
synergies, perceived customer feedback, strategic plans, expansion
of SAM in Japan or elsewhere, accretion and financial and
business expectations associated with the acquisition, as well as
any other statements regarding MACOM's plans, beliefs or
expectations regarding the transaction or its future business or
financial results. Forward-looking statements include all
statements that are not historical facts and generally may be
identified by terms such as "anticipates," "believes," "could,"
"estimates," "expects," "intends," "may," "plans," "potential,"
"predicts," "projects," "seeks," "should," "will," "would" or
similar expressions and the negatives of those terms.
Forward-looking statements contained in this press release
reflect MACOM's current views about future events and are subject
to risks, uncertainties, assumptions and changes in circumstances
that may cause those events or our actual activities or results to
differ materially from those expressed in any forward-looking
statement. Although MACOM believes that the expectations reflected
in the forward-looking statements are reasonable, it cannot and
does not guarantee future events, results, actions, levels of
activity, performance or achievements, including the successful
integration of the FiBest business or realization of any of the
projected benefits of the transaction. Readers are cautioned not to
place undue reliance on these forward-looking statements. A number
of important factors could cause actual results to differ
materially from those indicated by the forward-looking statements,
including, among others, costs associated with the acquisition,
failure to achieve expected synergies, accretion and other
anticipated benefits of the transaction or to successfully
integrate the FiBest business, adverse reactions to the acquisition
by employees, customers, suppliers or competitors of either MACOM
or FiBest, greater than expected dilutive effect on earnings from
the transaction or failure to comply with applicable covenants
related to MACOM's outstanding indebtedness, lower than expected
demand in any or all of our primary end markets or from any of our
large OEM customers based on the acquisition, macro-economic
weakness or otherwise, failures or delays by any customer in
winning business or to make purchases from us in support of such
business, lack of adoption or delayed adoption by customers and
industries we serve of GaN, Indium Phosphide lasers, or other
solutions offered by us, failures or delays in porting and
qualifying GaN or Indium Phosphide laser process technology to
our Lowell, MA fabrication facility or third party
facilities, lower than expected utilization and absorption in our
manufacturing facilities, lack of success or slower than expected
success in our new product development efforts, loss of business
due to competitive factors, product or technology obsolescence,
customer program shifts or otherwise, lower than anticipated or
slower than expected customer acceptance of our new product
introductions, the potential for increased pricing pressure based
on competitive factors, technology shifts or otherwise, the impact
of any executed or abandoned acquisition, divestiture or
restructuring activity, the impact of supply shortages or other
disruptions in our internal or outsourced supply chain, the
relative success of our cost-savings initiatives, the potential for
inventory obsolescence and related write-offs, the expense,
business disruption or other impact of any current or future
investigations, administrative actions, litigation or enforcement
proceedings we may be involved in, and the impact of any claims of
intellectual property infringement or misappropriation, which could
require us to pay substantial damages for infringement, expend
significant resources in prosecuting or defending such matters or
developing non-infringing technology, incur material liability for
royalty or license payments or prevent us from selling certain of
our products, as well as those factors described in "Risk Factors"
in MACOM's filings with the Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K for
the fiscal year ended October 2, 2015 as filed with
the SEC on November 24, 2015. MACOM undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20151209006327/en/
Company Contact:M/A-COM Technology Solutions Holdings,
Inc.Bob McMullan, 978-656-2753Chief Financial
Officerbob.mcmullan@macom.comorInvestor Relations
Contact:Shelton GroupLeanne K. Sievers, 949-224-3874EVPorBrett
L. Perry, 214-272-0070Managing
Directorsheltonir@sheltongroup.com
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