M/A-COM Technology Solutions, Inc. Acquired
LOWELL, Mass. – April 2, 2009 – M/A-COM Technology Solutions, Inc. (M/A-COM Tech) announced today
that it was acquired on March 31, 2009 by John Ocampo for up to $90 million. John Ocampo is the owner of GaAs Labs
LLC, a semi-conductor private equity fund based in California. In this transaction, Cobham received $30 million in
cash, $30 million in senior loan notes secured on the M/A-COM Tech assets and $30 million dependent on future
revenue in the period 2010 to 2012. There are no conditions to closing and the transaction has been completed.
M/A-COM Tech was founded as Microwave Associates in 1950. It was re-incorporated in September 2008, concurrent
with Cobham’s acquisition of M/A-COM’s defense and commercial businesses, to facilitate its divestiture from
Cobham. The products and markets that M/A-COM Tech serves were not seen as core to Cobham’s business strategy.
“This transaction could not have worked out better from M/A-COM Tech’s point of view. Our buyers have an intimate
understanding of our technologies and markets and a proven track record of successful acquisitions and profitable
growth.” comments Joe Thomas, president/CEO of M/A-COM Technology Solutions.
M/A-COM will continue to focus on commercial, industrial and government markets, specializing in RF, microwave
and millimeter wave component and technology solutions. The company’s products are utilized around the globe in a
wide range of applications including wireless infrastructure, handsets, WLAN, WiMax, CATV, VSAT, automotive, test
and measurement, radar, defense and government RF, microwave and millimeter wave systems.
Asif Anwar at Strategy Analytics comments, "We see this acquisition as a positive for M/A-COM Tech. The prior
expertise and focus of the personnel at GaAs Labs should bring a number of benefits to the company, not least of
which will be an understanding of the core trends in the semiconductor market. This will translate to a
"hands-off" approach that will help M/A-COM Tech preserve technology roadmap development efforts and retain core
staff, allowing the company the breathing space necessary to focus on growth opportunities moving forwards."
John Ocampo remarks “We are thrilled to have the unique opportunity to acquire one of the best known companies in
the RF and microwave space. M/A-COM Tech is an icon in our industry. We look forward to leveraging the company’s
products and technologies as platforms for future growth.”
About GaAs Labs LLC
GaAs Labs has extensive experience and a proven track record of success in developing and supplying high
performance semiconductors and related devices for RF, microwave and related applications in commercial
communications, satellite and defense-related markets worldwide. Rather than working with one partner only, each
of our companies has access to the collective vision, experience and network of all our GaAs Labs members.
The company is focused on providing the financing and operational expertise necessary to help grow the next
generation of world-class companies addressing communications semiconductor and related markets. We are looking to
partner with outstanding entrepreneurs and management teams to increase portfolio companies' growth trajectory,
profitability and market leadership.
About M/A-COM Technology Solutions, Inc.
M/A-COM Technology Solutions, Inc. (M/A-COM
Tech) and provides innovative design solutions and products including:
• Si, GaAs, AlGaAs, InGaAs, InP and
SiGe IC products
• Unique MMIC processes: HMIC™, GMIC™, MSAG™, iHBT™ • In-house design, fabrication, assembly and screening
capabilities • Multiple facilities for improved flexibility and local content manufacturing • Design
expertise covering the spectrum from RF through millimeter wave frequencies • One of the broadest selection of
standard and custom products in the industry
Headquartered in Lowell, Massachusetts, M/A-COM Tech will
build on some 60 years of experience to develop and manufacture active and passive products, including Si and
compound semiconductors from facilities in Lowell, MA and Torrance, CA. Infrastructure products will continue to
be provided by the Company’s facility in Cork, Ireland and Laser Diode products in Edison, NJ. The company is
certified to ISO 9001, ISO 14001, AS 9100 and QS-9000.