MACOM Acquires Mindspeed Technologies

MACOM Acquires Mindspeed Technologies

Semiconductor maker Mindspeed Technologies has been a prominent name in wireless communications since the earliest days of heterogeneous networks (HetNets). Now, the small-cell-focused company has become part of MACOM. MACOM has completed a tender offer to purchase all outstanding shares of Mindspeed Technologies. Common stock shares went for $5.05 per share in cash.

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MACOM hopes that this acquisition will bolster its standing in the market for high-performance-analog (HPA) solutions for high-speed networking and enterprise applications. Mindspeed’s portfolio includes: baseband processors, carrier Ethernet devices, optical laser drivers, customer-premise-equipment (CPE) processors, serial-digital-interface (SDI) cable drivers, and legacy devices, among others.

In November 2013, Mindspeed announced clock and data recovery (CDR) devices that support data rates to 28 Gb/s. The M37049 four-channel CDR supports data rates over multiple standards including 100G Ethernet, InfiniBand enhanced data rate (EDR), 32G Fiber Channel, and optical transport network (OUT-4). Together with Avago Technologies, Mindspeed also demonstrated a 12-channel, ultra-high-definition serial-digital-interface (UHD-SDI) solution targeting 8K UHDTV broadcast-video applications. The real-time uncompressed 8K video ran at 120 fps over a 100-m optical-fiber cable.

MACOM plans to leverage Mindspeed’s high-margin HPA portfolio in order to grow its market share. At the time of the tender offer’s expiration, 30,773,328 shares were validly tendered—representing approximately 70.1% of Mindspeed’s outstanding shares. An agreement was also announced that Mindspeed’s wireless-infrastructure business will be divested to Intel Corp. As a result of the merger, Mindspeed’s common stock will no longer be listed and traded on the NASDAQ global market.

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