M/A-COM acquires Nitronex for approximately $26M in cash M/A-COM Technology Solutions announced that it has acquired Nitronex. The acquisition of Nitronex is expected to provide MACOM with fundamental and innovative GaN-on-Silicon epitaxial and pendeoepitaxial semiconductor process technology and materials for use in RF applications, establishing MACOM's growing GaN technology portfolio as one of the broadest in the industry. MACOM purchased Nitronex from GaAs Labs, LLC for approximately $26M in cash, subject to potential post-closing adjustments. MACOM financed the transaction through a draw of additional indebtedness from its revolving credit facility. GaAs Labs, LLC is an affiliate of the majority stockholder of MACOM's parent company, M/A-COM Technology Solutions Holdings.
M/A-COM price target raised to $38 from $28 at Jefferies Jefferies raised its price target for M/A-COM shares to $38 after meeting with management and reiterates a Buy rating on the stock. The firm now sees "much more upside potential" over the next several years from new products and acquisitions.