Dimanche 18 Juin @ VIPress.netPowerwave Technologies to acquire the wireless infrastructure business of Filtronic
Powerwave Technologies and Filtronic announced that they have signed a definitive agreement for Powerwave to acquire the majority of Filtronic's Wireless Infrastructure division business for a combination of 20.7 million newly issued shares of Powerwave common stock and $150 million in cash. The specific product lines included in this transaction comprise transmit/receive filters, integrated remote radio heads and power amplifier products, all for use in commercial wireless infrastructure base station equipment. The proposed acquisition does not include point to point radio backhaul equipment, as well as Filtronic's other divisions, of compound semiconductors and defence electronics. Immediately following the close, Filtronic will have an equity interest in Powerwave of approximately 13%. Filtronic's wireless infrastructure business had a 12-month revenue for the period ending November 30, 2005 of approximately $332.1 million. Powerwave believes that combined revenues for calendar year 2007 will easily exceed $1.4 billion.
A key part of the strategy for Filtronic is to achieve further substantial growth in value for compound semiconductors. This division is seeing strong long term market growth as the mobile handset industry continues to adopt switches based on GaAs pHEMT technology, with the expectation that they will be used in around 80% of handsets produced by 2008, says Filtronic. So, the British company plans to expand the semiconductor facility to increase the size of this business by up to three times in the coming two years, at an estimated cost of £45m over the next twelve months.
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