Amalfi Semiconductor [ Amalfi ]
SAN FRANCISCO— RF Micro Devices Inc. (RFMD) said Monday (2012 Nov. 5) it signed a definitive agreement to acquire RF and mixed-signal IC vendor Amalfi Semiconductor Inc. ，and TriQuint and RFMD have merged to become Qorvo, a new global leader in RF solutions.
Amalfi Semiconductor (Los Gatos, Calif.) specializes in RF and mixed-signal chips for the entry-level smartphone market. RFMD(Greensboro, N.C.) said to would accelerate market adoption of Amalfi's ICs by combining Amalfi's product portfolio and proprietary RF CMOS and mixed-signal expertise with RFMD's customer relationships, product portfolio, in-house manufacturing scale and global supply chain.
"Amalfi's proprietary RF and mixed-signal expertise in RF CMOS are a great fit for RFMD and a strong addition to our long-term technology strategy," said Bob Bruggeworth, president and CEO of RFMD, in a statement. "RFMD gives Amalfi the global presence, market credibility, manufacturing scale and blue—chip customer access to take their business to the next phase of growth."
Under the terms of the deal, RFMD will acquire Amalfi with cash on hand for total consideration of about $47.5 million, net of cash received, RFMD said. The firm said it expects to achieve immediate product and cost synergies and anticipates that transaction will be accretive to RFMD's financial statements within two quarters.
Amalfi, founded in 2003, has obtained at least $76 million in venture capital funding, including $20 million announced earlier this yearfrom Battery Ventures, DCM and Globespan Capital Partners.
"The addition of Amalfi's RF CMOS PA technology with RFMD's market leadership and significant resources is a powerful combination, said Mark Foley, CEO and president of Amalfi. "We expect the acquisition will accelerate the delivery of new disruptive RF CMOS power amplifiers to the cost-driven entry-level smartphone market."
RFMD is now Qorvo.
Qorvo (Nasdaq:QRVO) is a leading provider of core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications. Qorvo was formed following the merger of RFMD and TriQuint, and has more than 6,000 global employees dedicated to delivering solutions for everything that connects the world. Qorvo has the industry's broadest portfolio of products and core technologies; world-class ISO9001-, ISO 14001- and ISO/TS 16949-certified manufacturing facilities; and is a DoD-accredited ‘Trusted Source’ (Category 1A) for GaAs, GaN and BAW products and services. For the industry’s leading core RF solutions.