Thomson Snell & Passmore advises CML Microsystems PLC on purchase of semiconductor design house

Thomson Snell & Passmore recently acted for longstanding client, CML Microsystems Plc (CML), on its purchase of Plextek RFI Limited (PRFI), a leading semiconductor design house.

CML which designs, manufactures and markets semiconductors, primarily for global communication and solid state storage markets, has added UK based PRFI to its group.

PRFI was 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 PRFI 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 was been funded by CML from a mixture of existing cash resources and shares from treasury.

The matter required various complex steps to be undertaken prior to completion in order to organise the complex ownership of the target company, which included an EMI scheme, as well as trustee shares within an employment SIP trust.

Guided by a tight timetable, the negotiation process was expedited by various multi-party meetings.

Joanne Gallagher, Partner and Head of Corporate led on the transaction, assisted by Faye Cook, Senior Associate. Partner Joanne Wright advised on the Commercial Property aspects of the deal.

If you would like more information in relation to Mergers & Acquisitions, please get in contact with Joanne Gallagher, Partner and Head of Corporate.