M/A-COM Technology Solutions Inc (MACOM) of Lowell, MA, USA (which makes semiconductors, components and subassemblies for analog, RF, microwave and millimeter-wave applications) has completed its acquisition (announced on 18 November) of BinOptics Corp of Ithaca, NY, USA (an ISO-certified merchant provider of indium phosphide lasers for data centers, mobile backhaul, silicon photonics and access networks) in an all-cash transaction valued at $230m.
“Our goal with this acquisition will be to further extend MACOM’s preeminent position in the optical space, as we now have an even broader platform to benefit from what we anticipate will be a strong secular growth driver for many years to come,” says MACOM’s president & CEO John Croteau, who said in November that BinOptics’ wafer-scale model for InP lasers would play to MACOM’s strength in compound semiconductor manufacturing, allowing it to address a supply-constrained part of the optical component industry. “Based on feedback from our optical customers thus far, we continue to expect significant operational and sales synergies as we integrate the acquired business,” Croteau adds.
MACOM funded the purchase price of the acquisition from a combination of cash on hand and incurring $100m of additional indebtedness from its existing revolving credit facility.
