Summit Partners takes minority stake in RF chipmaker M/A-COM Tech
What's the deal? Summit Partners has made a growth equity investment for a minority stake in M/A-COM Technology Solutions Holdings, a supplier of semiconductors and components for radio frequency, microwave, and millimeter wave applications. The firms announced the deal on January 11, 2011. Financial terms were not disclosed.
What's the endgame? M/A-COM Tech supplies chips and sub-assemblies to top original equipment manufacturers and systems integrators across cellular base stations, military communications, avionics, radar, medical equipment, and broadcast gear. The company said the capital will support investment in new products and technologies.
Why now? M/A-COM Tech framed the deal around its recent growth as an independent company. "We believe M/A-COM Tech will be even better positioned to invest in new products and technologies," said chairman John Ocampo.
Peter Chung, a managing director at Summit Partners, will join M/A-COM Tech's board. "M/A-COM Tech enjoys a unique position in the RF component sector," Chung said, citing its "rich history of innovation."
The signal: The tie-up reunites familiar players. Ocampo previously co-founded Sirenza Microdevices, a former Summit portfolio company he led through an IPO and eventual sale to RF Micro DevicesDealroom has a profile for this one. Try Dealroom → in 2007 — a track record that underpins Summit's return to the RF component space.
Read more: microwavejournal.com
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