Wolfspeed completes sale of RF business to Macom
Wolfspeed has completed the $125m of its radio frequency business to Macom Technology Solutions Holdings, the parent group of Macom.
The sales of the fab, staff and patents to Macom moves marks the transition of Wolfspeed to a pure play power device supplier based on silicon carbide., selling off its gallium nitride RF and LED activities.
The acquisition includes a 100mm GaN wafer fabrication facility in Research Triangle Park, North Carolina (the “RTP Fab”) with two years of support following the closing and Wolfspeed’s relocation of certain production equipment.
The acquisition also includes design teams and associated product development assets in Arizona, California and North Carolina, as well as back-end production capabilities in California and Malaysia. In addition, Macom will be assigned or licensed a robust intellectual property portfolio including over 1,400 patents associated with the RF Business.
“The completed sale of Wolfspeed RF is the final step in our transformation, and we’re happy to say Wolfspeed is now the only pure-play silicon carbide semiconductor manufacturer in the industry,” said Gregg Lowe, Wolfspeed president and CEO. “As demand continues to accelerate across the automotive, industrial and renewable energy markets, we can now focus on innovation and capacity for our materials and power device businesses.”
“We are excited to welcome the RF Business team to Macom,” said Stephen Daly, President, Chief Executive Officer and Chair of Macom. “Going forward, we are committed to supporting all product and foundry customers and building upon the RF Business’ established technology to strengthen our leadership position.”
The deal was worth $125m back in August, and Wolfspeed received $75m in cash today and shares worth around $60m. A workforce of approximately 280 employees is expected to join Macom at closing, with additional employees joining when the RTP Fab transfers.
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Wolfspeed is expanding its SiC capacity, including the final build-out of the company’s Mohawk Valley Fab in New York, and construction of the John Palmour Manufacturing Center (the JP), the world’s largest silicon carbide materials factory in Siler City, North Carolina. This aims to generate 10-fold increase from Wolfspeed’s current silicon carbide production capacity on its Durham, North Carolina campus.
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