Tuesday, 21 August 2007

RF Micro Says Will Buy Sirenza for USD 900 M

Mobile phone chip maker RF Micro Devices Inc. has said it plans to acquire its smaller rival Sirenza Microdevices Inc. for up to USD 900 million to expand its presence in WiMax, broadband, cable TV, and wireless infrastructure.


Greensboro, North Carolina based RF Micro will pay USD 300 million in cash and the rest in stock for Sirenza.

The deal with Sirenza will help RF Micro to reduce its dependence on the mobile phone market. Troubled American mobile phone maker Motorola is one of RF Micro’s biggest customers and Motorola’s woes have troubled RF Micro.

Once the deal is done, some of Sirenza’s executives will move to North Carolina to become part of RF Micro.