CML Microsystems PLC Acquisition (4747Z)
27 Mai 2016 - 8:00AM
UK Regulatory
TIDMCML
RNS Number : 4747Z
CML Microsystems PLC
27 May 2016
27 May 2016
CML Microsystems Plc
Acquisition
CML Microsystems Plc ("CML" or "the Group"), which designs,
manufactures and markets mixed-signal and Radio Frequency (RF)
semiconductors, primarily for global communication and solid state
storage markets, announces that it has entered into a definitive
agreement to acquire China-based Wuxi Sicomm Technologies Ltd
("Sicomm") and affiliated companies.
Founded in 2003, Sicomm is a fabless semiconductor company and
solutions provider specialising in the development of integrated
baseband processors and RF semiconductors for global wireless
communication markets. Sicomm has approximately 30 employees and is
headquartered in Wuxi, China, with offices in Shanghai and
Quanzhou. The company's product range, which partially competes
with existing CML solutions, is targeted for use within consumer,
industrial and professional radio products and focusses on the
customer need to achieve the right balance between cost,
functionality and technical performance.
This acquisition expands the Group's product portfolio,
strengthens its Far Eastern regional support resources and
reinforces CML's position as a leader in the professional and
industrial wireless communication semiconductor market.
The acquisition, which is subject to normal Chinese domestic
regulatory clearance, is valued at US$11m and will be funded from a
mixture of existing cash resources and the issue of 774,181 new CML
shares. The majority of the shares are subject to specific lock-in
restrictions over a three year period and are provided under
existing AGM resolution approval. The deal is expected to close
during the first half of the current financial year to 31(st) March
2017 and a further announcement will be made at that time.
"This dedicated and experienced team will be an important asset
as we continue to focus on sustainable growth. Sicomm's product
range, trading relationships and technical support abilities
complement and enhance the Group's existing skills and strategy,
and are expected to enable compelling technical and commercial
benefits for our customers", said Chris Gurry, CML's Group Managing
Director.
CML Microsystems plc www.cmlmicroplc.com
Chris Gurry, Group Managing Tel: +44 (0)1621 875
Director 500
Neil Pritchard, Group Financial
Director
Cenkos Securities plc Tel: +44 (0)20 7397
Jeremy Warner Allen (Sales) 8900
Max Hartley (Corporate Finance)
SP Angel Corporate Finance Tel: +44 (0)20 3463
LLP 2260
Jeff Keating
Walbrook PR Ltd Tel: +44 (0)20 7933
8780 / cml@walbrookpr.com
Paul McManus
Helen Cresswell
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQUNUBRNNAVUAR
(END) Dow Jones Newswires
May 27, 2016 02:00 ET (06:00 GMT)
Cml Microsystems (LSE:CML)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Cml Microsystems (LSE:CML)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024