C-MAC divests its frequency control business

C-MAC says the sale will enable it to exploit significant market share growth in the design and manufacture of hybrid microelectronics. A strategic restructuring decision was taken last year to establish FCP separately within C-MAC and its transformation into a double digit growth division led to the acquisition approach by Rakon. The divestiture consists of C-MAC’s two FCP manufacturing facilities in Lincoln (UK), and Argenteuil (France). It also includes C-MAC’s engineering and development facility in Harlow UK, plus its sales and distribution centres in Shenzhen (China), Durham (USA) and Crewkerne (UK). “Turning the FCP business into a profitable, independent part of the C-MAC MicroTechnology group was one of our key strategic aims and we are pleased to have served our employees, customers and shareholders through our actions and results,” stated C-MAC’s CEO, Indro Mukerjee. “The divestment enables us to further invest in key areas of technology such as our advanced RF and Microwave Group. We are also actively evaluating strategic acquisitions to support this growth.”