Monday, August 13, 2007

RFMD Acquires Sirenza Microdevices

RF Micro Devices said Monday that it has acquired Broomfield, Colorado-based Sirenza Microdevices. The deal is worth approximately $900M, made up of $300M in cash plus the balance in stock. Sirenza Microdevices is a manufacturer of radio frequency (RF) components. RFMD said that the merger would accelerate its penetration into multiple, high-growth markets, diversify its customer base, and strengthen its customer base. The deal is expected to be complete in RFMD's fiscal Q3, which ends December 29th. Banc of America Securities advised Sirenza in the deal; RFMD was advised by Merrill Lynch & Co.