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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Sivers Semiconductors completed its acquisition of US millimeter-wave chipmaker MixComm on February 22, 2022. The deal closed for USD 22.5 million in cash and 39,187,320 newly issued Sivers shares, with up to 6,993,007 further shares tied to commercial milestones.
When did Sivers acquire MixComm?
Sivers announced the agreement to acquire 100% of MixComm on October 14, 2021. The Committee on Foreign Investment in the United States (CFIUS) approved the transaction on January 20, 2022, and Sivers completed it on February 22, 2022, consolidating MixComm into the group. Sivers Semiconductors described the closing in its February 2022 announcement.
How much did Sivers pay?
At closing, the consideration was USD 22.5 million in cash plus 39,187,320 newly issued Sivers shares. The closing terms also allowed up to 6,993,007 additional shares to be issued if MixComm met commercial milestones. The initial October 2021 announcement had described a USD 135 million debt-free valuation, with a different preliminary share count of 39,335,664 and an earn-out of up to USD 20 million in shares. Those initial terms should not be confused with the final consideration reported at closing.
What did MixComm make?
Founded in 2017 and headquartered in Chatham, New Jersey, MixComm was a fabless semiconductor company developing millimeter-wave (mmWave) chips. It had design centers in Oregon and California and focused on beam-forming technology for 5G infrastructure, satellite communications (SATCOM) and radar. Its flagship beam-forming integrated circuit (BFIC) was the SUMMIT 2629.
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MixComm brought radio-frequency integrated circuit (RFIC) and BFIC designs using silicon-germanium (SiGe) and radio-frequency silicon-on-insulator (RF-SOI) technologies. Sivers identified applications spanning licensed and unlicensed 5G infrastructure, fixed wireless access (FWA) customer-premises equipment, satellite communications and antenna-in-package designs. In practical terms, beam-forming chips help steer radio signals electronically, a capability used in mmWave systems that need to direct transmissions between antennas and devices.
Why was the acquisition strategically important?
The deal broadened Sivers’ wireless semiconductor portfolio and added MixComm’s US-based design capability and customer programs. The companies’ announced portfolio combined different chip technologies and packaging approaches across 5G, FWA, satellite and radar markets, rather than focusing on a single end use. The acquisition announcement also named Richardson RFPD as MixComm’s distribution and logistics partner; that historical mention does not establish current partner terms.
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Customer traction at closing
When the acquisition closed, Sivers said MixComm had 18 design wins, including one with a leading Tier 1 5G infrastructure customer. Sivers projected its Wireless design wins would increase by about 70% to 44. It also expected the number of design wins anticipated to enter volume production within 12 months to rise from eight to 16. These were company-reported expectations at closing, not a guarantee that each design would reach production.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to MixComm after the acquisition?
On June 22, 2022, Sivers announced that integration was complete. It estimated annual synergies of approximately SEK 10 million from shared development tools and personnel, said product overlap between the companies was minimal, and appointed former MixComm CEO Mike Noonen as Sivers’ US President. These are reported integration outcomes from 2022; they do not establish current product availability or the status of individual customer programs.
In its closing announcement, Sivers CEO Anders Storm said the company looked forward to delivering “the very significant synergy benefits” it saw from the combination. The later integration announcement quantified expected annual synergies at approximately SEK 10 million.
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