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Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Fairchild Semiconductor completed its purchase of Raytheon’s commercial RF Components business on October 20, 2003, paying approximately $9.5 million in cash. The deal covered a specific radio-frequency business and related assets—not all of Raytheon—and was separate from Fairchild’s 1997 purchase of Raytheon Semiconductor.
When did Fairchild buy Raytheon’s RF division, and how much did it pay?
The transaction closed on October 20, 2003. Fairchild’s 2003 Form 10-K reports consideration of approximately $9.5 million in cash (Fairchild Semiconductor 2003 Form 10-K).
The purchase was for the commercial unit of Raytheon’s RF Components Division, rather than Raytheon as a whole. The reported $9.5 million is the purchase consideration; Fairchild later recorded a separate $2.1 million non-recurring in-process research and development charge in its 2004 Form 10-K (Fairchild Semiconductor 2004 Form 10-K).
What did Fairchild acquire?
The acquisition brought Fairchild technology, foundry arrangements and personnel aimed at commercial wireless applications. Fairchild’s 2004 factbook described the strategic aim as “an immediate entry into the advanced radio frequency (RF) market for applications that include Wireless LANs and handset power amplifiers” (Fairchild 2004 factbook).
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- RF products and intellectual property, including gallium-arsenide (GaAs) millimeter-wave monolithic microwave integrated circuits (MMICs).
- A GaAs wafer-foundry agreement, an equity stake in WIN Semiconductor Corporation, and access to foundry and support services at Raytheon’s Andover, Massachusetts facility.
- More than 30 Raytheon designers, test engineers and business-development employees, according to EE Times’ 2003 report on the announcement (EE Times, 2003).
Was this the same as Fairchild’s 1997 Raytheon purchase?
No. Fairchild bought Raytheon Semiconductor, Inc. in a separate transaction that closed on December 31, 1997, for about $120 million, according to Raytheon’s 1998 annual report (Raytheon Company 1998 annual report). That earlier business was broader, covering analog and mixed-signal semiconductors. The 2003 transaction was focused on commercial RF components and wireless applications.
| Transaction | Closing date | Business acquired | Reported price | Technology focus |
|---|---|---|---|---|
| Raytheon Semiconductor | December 31, 1997 | Raytheon Semiconductor, Inc., a broader semiconductor business | About $120 million (Raytheon 1998 annual report) | Analog and mixed-signal semiconductors |
| Raytheon RF Components commercial unit | October 20, 2003 | Commercial RF business and related assets, agreements and personnel | Approximately $9.5 million in cash (Fairchild 2003 Form 10-K) | Commercial RF, GaAs MMICs, wireless LAN and handset power amplifiers |
What happened to Fairchild’s RF business later?
The 2003 purchase should not be confused with Fairchild’s later exit from the RF Group. In a 2007 SEC filing, ANADIGICS reported that it acquired Fairchild’s RF design team, fixed assets, certain leases, software and IP licenses for $2.3 million (ANADIGICS 2007 SEC filing). That was a later transfer from Fairchild to ANADIGICS, not part of the 2003 purchase from Raytheon.
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