Missile maker, Soitec save Dolphin Integration

Missile maker, Soitec save Dolphin Integration

Business news |
By Peter Clarke

The takeover is being made by way of a 60:40 joint venture between Soitec and MBDA Missile Systems that will take on the assets of Dolphin integration and all the employees. Headquartered in Grenoble, Dolphin Integration was founded in 1985. Dolphin currently employs 155 people, including 130 design engineers. For the fiscal year ended March 31, 2018, the company generated revenues of €17 million (about $20 million).

The purchase price was effectively €6 million as for this sum Soitec and MBDA Missile Systems have committed to acquire most of Dolphin Integration’s assets, pay off certain liabilities and make a “significant cash injection” into Dolphin’s working capital. 

MBDA’s involvement is because it is a customer of Dolphin’s  MBDA is itself a joint venture being jointly owned by Airbus (37.5 percent), BAE Systems (37.5 percent), and Leonardo (25.0 percent). MBDA has a been a customer of Dolphin’s for defense applications since 2004.

Soitec said it will strengthen Dolphin Integration’s position within the semiconductor IP and design ecosystem where it can apply skills in the design of fully-depleted silicon-on-insulator (FDSOI) circuits.

“Dolphin Integration represents a strategic opportunity for Soitec to reinforce a full IP and service offering related to energy efficient solutions for chip design on FDSOI. This is a major differentiating factor for FDSOI and a key accelerator of FDSOI adoption in major market segments,” commented Paul Boudre, CEO of Soitec.

Dolphin Integration is expected to be fully consolidated into Soitec’s financial statements as of September 2018.

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