Leading South East law firm Thomson Snell & Passmore confirms that CML Microsystems Plc (“CML”), which designs, manufactures and markets semiconductors, primarily for global communication and solid state storage markets, has acquired 100% of the share capital of UK-based Plextek RFI Ltd ("PRFI").
PRFI is part of the Plextek Group of companies and specialises in the design and development of RF, Microwave and Millimetre-wave (mm-wave) ICs and modules. The team has completed in excess of 100 IC designs, operating at radio frequencies up to 100GHz and is a third-party approved design house for a number of leading semiconductor companies globally.
The acquisition has been funded from a mixture of existing cash resources and shares from treasury.
Commenting on the acquisition, Chris Gurry, CML's Group Managing Director says: “PRFI’s dedicated and experienced team enhances our strategy for expansion within Communications markets. Their design expertise expands upon the Group's existing skills and provides a new independent services and consulting income stream for CML”
Joanne Gallagher, partner and Faye Cook, senior associate, at Thomson Snell & Passmore add: “We were delighted to advise long standing client CML on its purchase of PRFI, harnessing our M&A expertise as well as our knowledge of the technology sector. We look forward to seeing the continued growth of CML in the future."