11 January 2011

Summit Partners takes minority stake in M/A-COM Tech

Growth equity investor Summit Partners has invested a minority stake in M/A-COM Technology Solutions Holdings Inc of Lowell, MA, USA (which manufactures semiconductors, components, and subassemblies for RF, microwave and millimeter-wave applications).

M/A-COM Tech provides solutions to a broad range of complex RF and microwave circuit design, packaging and manufacturing challenges faced by top OEMs and systems integrators in markets including cellular base-stations and infrastructure, military communications, avionics, radar, medical equipment, point-to-point and broadband radios, and broadcast equipment. Products are sold and distributed globally via multiple sales channels—including a direct field sales force, authorized sales representatives and industry distributors.

“We are very pleased to add Summit Partners as an investor in and adviser to M/A-COM Tech,” says John Ocampo, chairman of the board of M/A-COM Tech. “With Summit’s unparalleled sector expertise and track record in communications technology, we believe M/A-COM Tech will be even better positioned to invest in new products and technologies,” he adds.

M/A-COM was founded in the 1960s, but in 1995 was acquired by Pennsylvania-based AMP Inc, before becoming Tyco Electronics’ Wireless Systems Segment (following Tyco International Inc’s acquisition of AMP in 1999). In September 2008, the defense & aerospace and commercial segments of M/A-COM Inc was acquired by UK-based aerospace technology developer Cobham plc, which in March 2009 sold off the commercial segment (renamed M/A-COM Technology Solutions Inc) for up to $90m to John Ocampo, co-founder, owner and president of Silicon Valley-based private equity fund GaAs Labs LLC.

Ocampo previously co-founded former Summit Partners portfolio company Sirenza Microdevices Inc of Broomfield, CO (a diversified supplier of RF semiconductors and components), which he led through an IPO and eventual sale to RF Micro Devices Inc of Greensboro, NC in 2007.

Summit Partners’ managing director Peter Chung will join M/A-COM Tech’s board of directors. “M/A-COM Tech enjoys a unique position in the RF component sector, with its rich history of innovation and, more recently, its significant growth and development as an independent company,” says Chung. Last June, M/A-COM Tech acquired Mimix Broadband Inc of Houston, TX, a fabless developer of GaAs semiconductors from DC to 50GHz for RF, microwave and millimeter-wave applications in the telecom, satellite and defense markets. “We look forward to working closely with the M/A-COM Tech management team and board,” adds Chung.

See related items:

M/A-COM Tech and Mimix complete merger

Cobham divests M/A-COM Technology Solutions to GaAs Labs

Tags: M/A-COM Technology

Visit: www.macomtech.com

Visit: www.summitpartners.com