3rd Mar 2020 19:01
(Alliance News) - CML Microsystems PLC on Tuesday said it has wholly-acquired UK-based Plextek RFI Ltd, but did not disclose the financial details of the deal.
Plextek RFI is a UK based firm specialising in the design and development of radio-frequency integrated circuits, monolithic microwave integrated circuits and microwave/mm-wave modules.
The semiconductor manufacturer said the acquisition was funded from a mixture of existing cash resources and shares from treasury. The company's total issued share capital comprises around 17.2 million shares.
"PRFI's dedicated and experienced team enhances our strategy for expansion within communications markets. Their design expertise expands upon the group's existing skills and provides a new independent services and consulting income stream for CML," said CML Managing Director Chris Gurry.
The stock closed down 1.2% at 330.00 pence each on Tuesday in London.
By Ife Taiwo; [email protected]
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