Mimix acquires Celeritek

Mimix Broadband has completed the purchase of substantially all of Celeritek's assets.

Mimix Broadband has completed the purchase of substantially all of Celeritek's assets.

The purchase price was $2.8 million in cash, plus the assumption of approximately $6 million in liabilities.

Celeritek designs and manufactures radio frequency integrated circuits (RFICs), low noise amplifiers, gain blocks and power amplifier modules for the semiconductor components market using GaAs based device technology.

These products are used in a variety of commercial and defense applications and primarily consist of transmit solutions.

Commercial semiconductor applications include wireless communication network and satellite applications.

Founded in 2000, Mimix supplies highly integrated and linear monolithic microwave integrated circuits (MMICs) for microwave and millimetre-wave wireless applications.

The addition of Celeritek gives Mimix an immediate platform to expand its product portfolio and serve new, complementary markets.

This combined company offers a more diversified product line to serve the top tier telecomms, satellite and defence companies.

Mimix has also revealed that it has simultaneously raised an additional $8.5 million, with participation from all of its current institutional and private investors, closing a follow on Preferred B round.

The institutional investors include 3i, First Capital Group of Texas and Gefinor Ventures.

"The support shown by all of our current investors demonstrates their confidence and enthusiasm about this Celeritek acquisition", stated Rick Montgomery, CEO of Mimix Broadband.

"No doubt, we believe this winning combination will generate innovative technology and supply superior customer support, building the very best platform in the microwave and millimetre-wave semiconductor industry".

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