Advised: Compound Semiconductor Technologies Global on its sale to Sivers IMA

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Deal summary

Sivers IMA, the leading developer and manufacturer of compound semiconductors acquired CST Global, the manufacturer of compound semiconductors, for SEK 151 million, allowing Sivers IMA to expand its portfolio to include fiber network optic products.

  • Sivers IMA’s portfolio gained direct fiber-optic network products, including lasers used in data-center, cloud and ‘fibre-to-the-subscriber’ markets.
  • The acquisition was contingent on approval by more than half of the votes casted at Sivers IMA’s extraordinary general meeting (EGM) and the authorization for the board to issue the new shares constituting the initial purchase price, that all shareholders loans to CST Global have been converted into shares, that certain undertakings regarding a 12 month lock-up period for the shares received in Sivers IMA have been given, that certain approvals from third parties has been obtained and that the CST Global’s cash available will be at least £400,000.
  • The purchase price consisted of 27,924,998 newly issued shares in Sivers IMA to be delivered at closing.
  • In addition, if CST Global’s 2017 revenue exceeded £6.5m, an earn-out payment of up to 13,962,499 new shares will be issued (making 41,887,497 shares in total, corresponding to 50% of all shares in the company after the transaction).

About Sivers IMA

Sivers Semiconductors AB (publ) is the parent company of a Group that comprises the wholly owned subsidiaries Sivers Wireless AB, Sivers Photonics Ltd and Trebax AB. Operations are mainly conducted through the two business areas Wireless and Photonics. Sivers Semiconductors and Sivers Wireless have headquarters in Kista, Sweden, with a local office in Gothenburg, Sweden. Sivers Photonic’s headquarters and factory are located in Glasgow, Scotland.

About CST Global

CST Global was formed in 1999 by the universities of Strathclyde and Glasgow (together with Scottish Enterprise), specializing in the design, development and manufacture of III-V optoelectronic wafers and chips for the telecom, fiber, industry, defense and health sectors. CST Global provided both a custom foundry service, as well as a range of high-volume, standard laser products for the optical communications markets.

“Data usage and bandwidth needs are constantly increasing and, with this acquisition, Sivers IMA is now able to offer basic components in these growth areas,”
Anders Storm CEO, Sivers IMA
“Sivers IMA can now supply photonic, microwave and millimeter wave solutions for the rapidly expanding data-center, cloud and telecommunications markets in China, Europe and America. CST Global is delighted to be part of a growing company group focusing on microelectronics, microwaves and photonics. “This combination will give us a unique position on a rapidly growing and evolving market, in particular for data- and telecoms.”
Neil Martin CEO, CST Global
  • Deal value

    SEK 151m

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