Sivers Semiconductors in mmWave chip buy

Sivers Semiconductors in mmWave chip buy

Business news |
By Nick Flaherty

Swedish chip maker Sivers Semiconductors is to buy US mmWave chip developer MixComm for $135m.

The deal creates a global player in 5G mmWave semiconductors, with strong capabilities and a broad joint IP portfolio of RFIC/BFIC (radio frequency/beam forming integrated circuits) chipsets in a wide variety of mmWave semiconductor technologies, including SiGe (Silicon Germanium) and RF-SOI (RF silicon-on-insulator). 

The IP portfolio will cover a broad spectrum of possible mmWave use cases such as unlicensed 5G, licensed 5G infrastructure, fixed wireless access (FWA) customer premises equipment (CPE) and satellite communications (SATCOM), with industry leading performance. The acquisition also enables the combined businesses to bring MixComm’s industry-first Antenna-in-Package technology to all mmWave applications.

The deal increases the total number of design wins at Sivers by approximately 70 per cent to 44, as well as double the number of design wins expected to enter volume production within the next 12 months, from eight to 16.

MixComm currently has 18 design wins, including with a major Tier 1 5G infrastructure customer, and a significant pipeline of potential new customer opportunities. MixComm has approximately 20 patents currently filed, granted or exclusively licensed and reported USD 1.3 million in revenue in H1 2021 with a strong sales pipeline for the coming year. 

MixComm estimates that its top three customers could generate approximately USD 70 million in aggregate revenue for 2022-2024, and an incremental $70m in revenue from the Tier 1 customer by 2026.

Founded in 2017, MixComm is headquartered in Chatham, New Jersey and has design centres in Oregon and California.  It is an active US participant in the 5G BFIC (repeaters/base stations), SATCOM and radar projects using technology developed at Columbia University by Dr. Krishnaswamy, MixComm’s Co-Founder and CTO. The company is the first and only mmWave company selected to join the 5G Open Innovation Lab founded by T-Mobile and Intel.

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“We have worked closely with the MixComm team to finalize this acquisition and it has been a great pleasure getting to know many of the team members. MixComm has in a short time period been able to build a very impressive customer list as well as sales funnel. MixComm and Sivers have the same philosophy when it comes to building partnerships within the mmWave eco-system and by adding these eco-systems together we will create an even greater combined entity. I would like to welcome MixComm into the Sivers family and look forward to executing on all the exciting plans we have together”, said Anders Storm, Group Chief Executive Officer of Sivers.

“Sivers and MixComm share a vision for mmWave’s impact and potential. Combining with Sivers will accelerate that impact and amplify that potential. The MixComm team is proud of what we have achieved and excited where we will go now as part of the Sivers family”, said Mike Noonen, Chief Executive Officer of MixComm. “In Sivers, we see a company that has the same philosophy as MixComm when it comes to technical excellence, out-of-the box thinking, and customer partnerships and service. I have no doubt that the combined entity will not only match but, through our synergies, significantly exceed the exponential growth that the individual entities are currently seeing,” said Krishnaswamy. 

The deal is dependent on approval by an Extraordinary General Meeting (EGM) at Sivers as well as regulatory approval by the Committee on Foreign Investment in the United States (CIFUS), as mmWave is considered a key technology.

The EGM is expected to be held in the first half of November 2021 and completion is expected to take place by mid-Q1 2022.

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