Micross Expands Hi-Rel Components Offering with the Acquisition of the High-Reliability Discrete Diodes and Assemblies Business of Semtech Corporation

Rhea-AI Summary

Micross Components has announced the acquisition of Semtech Corporation's High-Reliability Discrete Diodes and Assemblies business. This strategic move enhances Micross's offerings in the high-reliability microelectronic components sector, which serves critical industries like aerospace and defense. The acquired products, renowned for their durability, have a history of over 60 years in military and space applications. With this acquisition, Micross aims to leverage new growth opportunities and expand its high-quality product range, reinforcing its position as a leading provider in the market.

Positive

• Acquisition strengthens Micross's product portfolio in high-reliability components.
• Expands capabilities with Semtech's established manufacturing and product range.
• Potential for increased market share in military and space applications.

Negative

• None.

MELVILLE, N.Y., May 4, 2022 /PRNewswire/ -- Micross Components, Inc. ("Micross"), a leading global provider of mission-critical microelectronic components and services for high-reliability aerospace, defense, space, medical, energy, industrial, and other applications announced the expansion of its Hi-Rel Components business with the acquisition of the High-Reliability Discrete Diodes and Assemblies business of Semtech Corporation (NASDAQ: SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors.

High-Reliability Discrete Diodes and Assemblies related to this acquired business have served Military & Space applications for more than 60 years. Product types include Qualified Products List (QPL) and non-QPL rectifiers, transient voltage suppression (TVS) and Zener diodes in axial and surface-mount packages, as well as assemblies in catalog and custom configurations, and a new range of Commercial Off-The-Shelf (COTS) diodes and power management devices, all engineered for the harshest environments. Solutions range from single- to multi-phase devices in high-current/high-voltage configurations. The designs are rugged and the packages are hermetic and varied in their overall function and construction. Current applications include power supplies, base stations, motor drives, medical equipment, and have the potential to expand much further.

Micross a portfolio company of Behrman Capital. Simon P. Lonergan, Managing Partner of Behrman Capital, said, "This acquisition represents an extremely strong strategic fit for Micross, as the Company continues to build out its product portfolio to better serve its customer base. Adding Semtech's high-reliability discrete products to Micross' platform further differentiates the Company's leading position as a one-stop source of supply for one of the broadest portfolios of high-reliability electronic services and products. We look forward to continuing to work with management to identify additional opportunities to drive growth at Micross."

Vince Buffa, Chairman and CEO of Micross, said, "We are delighted to partner with the High-Reliability Discrete Diodes and Assemblies (HRDDA) team through this acquisition, which further expands Micross' capabilities. With the addition of HRDDA's significant manufacturing capacity, we will be better positioned to produce an even wider range of high-quality products for our customers. Together with HRDDA, we plan to pursue a number of compelling growth opportunities to further realize our exciting growth prospects ahead, all while upholding excellent quality and service to our customers."

Related Link: www.micross.com/Semtech

For hi-resolution images and questions regarding article development, please contact:
Christopher Stabile, Director of Corporate Marketing Communications
Micross Components
chris.stabile@micross.com

About Micross
Micross is the most complete provider of advanced microelectronic services and component, die and wafer solutions. With the broadest authorized access to die & wafer suppliers, and the most comprehensive advanced packaging, assembly, modification and test capabilities, Micross is uniquely positioned to provide unparalleled high-reliability solutions from bare die, to fully packaged devices, to complete program lifecycle sustainment. For more than 40 years, Micross has been a trusted source for the aerospace, defense, space, medical, energy, industrial, and other markets.

For more information about Micross, please visit www.micross.com. Follow us on Twitter or LinkedIn.

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SOURCE Micross Components

FAQ

What business did Micross acquire from Semtech Corporation?

Micross acquired the High-Reliability Discrete Diodes and Assemblies business.

How will the acquisition of Semtech impact Micross's operations?

The acquisition will enhance Micross's product offerings and manufacturing capabilities, facilitating growth in critical sectors.

What are the applications of the products acquired from Semtech?

The acquired products are used in military, aerospace, and other high-reliability applications.

What is the strategic significance of the acquisition for Semtech's stock (SMTC)?

The acquisition allows Micross to differentiate itself in the market, but the long-term impact on Semtech's stock depends on integration success and market dynamics.