TT Acquires Semelab Components Business
TT electronics announced what it describes as a strengthening of its position in the defense and aerospace markets with the acquisition of Semelab Ltd. Semelab designs and produces specialized radio frequency and power semiconductors, optoelectronic components and power microcircuits and modules, primarily for the UK and European markets.
TT electronics states that the Semelab agreement will allow it to offer solutions to customers in the automotive, defence, aerospace, telecommunications, computing and industrial electronics markets. The companies will work together on R&D projects, providing technological advantages for customers and reducing time-to-market on applications including flight control aircraft systems, defense equipment and space vehicles.
The Semelab group consisted of three principal operating companies: Semelab – Discrete semiconductor design, packaging, testing and supply in four market segments (Aerospace, Power, RF & Opto); Semefab – Wafer Fab, ASIC design and marketing; Magnatec – Specialist distribution of power and audio semiconductors.
TT electronics has acquired Semelab and Magnatec under the new collective name of Semelab Ltd.. Semefab will continue to trade separately as Semefab Systems and will continue to supply product to Semelab pursuant to a long term supply agreement.
Andrew Deacon, Managing Director of Semelab commented, "I am delighted that the sale is now complete. Semelab enjoys a number of leading market positions and working closely with TT electronics, the management team have developed a clear strategy for increased growth. TT electronics appetite for the deal was clear from the start and I was particularly impressed that the team pulled out all the stops towards the end of this complex transaction."
Geraint Anderson, CEO of TT electronics, commented, "We are delighted with this acquisition which represents an attractive addition to complement our existing component operations. Semelab is a profitable business which will benefit from the group’s global sales network and our technical capabilities."