August 14, 2007 – RF Micro Devices Inc. has agreed to acquire RF components supplier Sirenza Microdevices in a cash-and-stock deal worth about $900 million.
The transaction “creates the world’s largest, most diversified and best positioned RF company,” with RFMD focusing on RF integration and systems-level design expertise for cellular applications, and applying that to Sirenza’s footprint in multiple high-growth RF markets, including broadband/CATV, wireless infrastructure, WiMAX and aerospace and defense, according to Bob Bruggeworth, president and CEO of RFMD. He will continue as president/CEO of the combined company; Sirenza president/CEO Bob Van Buskirk will move to North Carolina to lead the organization’s multimarket products group.
Sirenza, meanwhile, gets from the deal an expanded revenue stream beyond component-level solutions and better supply chain and procurement efficiencies through RFMD’s high-volume semiconductor manufacturing infrastructure. “We have great potential to accelerate revenue growth and expand margins by leveraging the technology base, supply chain and leadership position RFMD has achieved,” said Van Buskirk.