Sivers Press
Sivers Semiconductors (“Sivers”; Nasdaq Stockholm: OM.SIVE) has completed the integration of MixComm, creating a strong global challenger in 5G, SATCOM and radar. Along with broadening Sivers’ portfolio, and increasing Siver’s presence in the U.S., the integration entails synergies of approximately SEK 10 million per year. Sivers writes down intangible assets of approximately SEK 22 million due to overlapping product development areas. Sivers is also introducing a new role in the US, making Mike Noonen, former CEO of MixComm, US President.
Sivers has found large synergies in development tools and some personnel which gives a total saving of approximately SEK 10 million per year compared with if MixComm and Sivers had been two autonomous units. At the end of the first quarter of 2022, Sivers had 137 employees, which includes personnel synergies.
Sivers Wireless has a minimal product overlap with MixComm. However, there is a one product, a Beam Forming IC (BFIC) that Sivers and MixComm both had independently developed, where Sivers has determined that MixComm’s BIFC is the most sophisticated solution. Sivers therefore chooses to write down intangible assets of approximately SEK 22 million for the product that Sivers Wireless has developed
“MixComm’s key area has been BFICs, where MixComm founder Harish Krishnaswamy and his team had invested many years in optimizing technology at Columbia University with significant DARPA support. This technology is "state-of-art" and the one we will continue to develop within BFIC and later also RFICs," said Anders Storm, CEO of Sivers Semiconductors.
In the new organization, Mike Noonen has been named US President with a focus on business development and sales for both Sivers Wireless and Photonics. During a transition period, he will also be Managing Director (MD) of Sivers Wireless. Pelle Wijk will take on a new role as Chief Operating Officer (COO) of Sivers Wireless. Patric Erlandsson, former VP Sales of Sivers Wireless, becomes SVP Marketing for the parent company Sivers Semiconductors.
Sivers Wireless will be divided into two different development units, one in the US which will be run by Harish Krishnaswamy, co-founder and former CTO at MixComm, and one in the EU which will be run by Magnus Sneitz, previously Head of the Project Management Office (PMO) at Sivers Wireless.
"With MixComm now fully integrated, we now have a much stronger presence in the US, and I am very happy that Mike Noonen is taking on this new role. He has a network in the USA that is top tier and is very well known in the semiconductor industry," said Anders Storm, CEO of Sivers Semiconductors.
About MixComm
Founded in 2017, MixComm is headquartered in Chatham, New Jersey (USA) and has design centers in Oregon and California. It is an active US participant in 5G BFIC (repeaters / base stations), SATCOM and radar verticals. Led by a world-class executive team, the company was built on more than 10 years of development at Columbia University led by Dr. Krishnaswamy (MixComm’s co-founder and CTO) through externally funded research projects totaling approximately USD 94 million across all projects and participants. The majority of MixComm's employees hold a PhD and the company is the first and only mmWave company selected to join the 5G Open Innovation Lab founded by T-Mobile and Intel. MixComm's flagship Beam Forming IC (BFIC), the SUMMIT 2629, was the recipient of numerous "Best Products" citations in 2020, including "The Broadband Innovation of the Year" from the Mobile Breakthrough Awards. MixComm has established partnerships with GlobalFoundries (who is also a minority investor in MixComm) for RF-SOI fabrication, packaging and test services, and with Richardson RFPD for distribution and logistics globally. Both the GlobalFoundries and the Richardson RFPD collaboration will continue under the Sivers Wireless brand and be expanded to all products by the company.
For more information please contact:
Anders Storm, CEO
Tel: +46 (0)70 262 6390
E-mail: [email protected]
Sivers Semiconductors AB is a leading and internationally recognized technology company that supplies ICs and integrated modules through its two business areas Wireless and Photonics. Wireless develops mmWave products for advanced 5G systems for data and telecommunications networks and satellite communication. The portfolio includes RF transceivers, beamforming front end ICs, integrated mmwave antennas, repeaters, and software algorithms for optimum mmWave RF performance. Photonics develops and manufactures semiconductor based optical products for optical fiber networks, sensors and optical fiber communications (Li-Fi). The company is listed on Nasdaq Stockholm under SIVE. The head office is located in Kista, Sweden. For more information: http://www.sivers-semiconductors.com
