Summit Partners takes minority stake in M/A-COM Tech Solutions
Growth equity investor Summit Partners today announced an investment for a minority stake in M/A-COM Technology Solutions Holdings, Inc., a leading supplier of semiconductors, active and passive components, and sub-assemblies for use in radio frequency, microwave and millimeter wave applications. Financial terms of the transaction were not disclosed.
M/A-COM Tech provides solutions to a broad range of complex radio frequency (RF) and microwave circuit design, packaging and manufacturing challenges faced by top OEMs and systems integrators. The company is the partner of choice in a variety of markets - including cellular base stations and infrastructure, military communications, avionics, radar, medical equipment, point-to-point and broadband radios, and broadcast equipment. Its products are sold and distributed globally via multiple sales channels - including a direct field sales force, authorized sales representatives and leading industry distributors.
John Ocampo, Chairman of the Board of M/A-COM Tech, said, "We are very pleased to add Summit Partners as an investor in and adviser to M/A-COM Tech. With Summit's unparalleled sector expertise and track record in communications technology, we believe M/A-COM Tech will be even better positioned to invest in new products and technologies that will allow us to continue providing market-leading solutions to our customers worldwide."
Mr. Ocampo is an RF components industry veteran, having co-founded former Summit Partners portfolio company Sirenza Microdevices, a diversified supplier of RF semiconductors and components, which he led through a successful IPO and eventual sale to RF Micro Devices in 2007.
Peter Chung, Managing Director of Summit Partners, will join the M/A-COM Tech Board of Directors. Mr. Chung said, "M/A-COM Tech enjoys a unique position in the RF component sector with its rich history of innovation and, more recently, its significant growth and development as an independent company. We look forward to working closely with the M/A-COM Tech management team and board. We are also very grateful for the opportunity to work again with John and his outstanding team of executives."