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Date Announced: 16 Dec 2014
Laser diode maker becomes part of larger communications technology firm.
LOWELL, Mass., Dec. 16, 2014 (GLOBE NEWSWIRE) -- M/A-COM Technology Solutions Holdings, Inc. (MTSI) (MACOM), a leading supplier of high-performance RF, microwave, millimeterwave and photonic products, today announced that it has successfully completed its previously announced acquisition of BinOptics Corporation, a leading merchant provider of Indium Phosphide lasers for Data Centers, Mobile Backhaul, Silicon Photonics and Access Networks, in an all-cash transaction valued at $230 million.
John Croteau, President and Chief Executive Officer of MACOM stated, "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. Based on feedback from our optical customers thus far, we continue to expect significant operational and sales synergies as we integrate the acquired business."
MACOM funded the purchase price of the acquisition from a combination of cash on hand and incurrence $100 million of additional indebtedness from its existing revolving credit facility.
Source: M/A-COM
E-mail: via web site
Web Site: www.macom.com
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