Evaluation Engineering - 6

Mulder named Anritsu
Company president
and CFO
Cree selling lighting
business to Ideal
Industries, will focus
on semiconductors
On March 15, Cree, Inc. announced the execution of a
definitive agreement to sell
its Lighting Products business unit, which includes the
LED lighting fixtures, lamps,
and corporate lighting solutions business for commercial, industrial, and consumer applications, to IDEAL
INDUSTRIES for approximately $310 million before tax
impacts, including up-front
and contingent consideration
and the assumption of certain
liabilities. Cree expects to receive an initial cash payment
of $225 million, subject to purchase price adjustments, and
has the potential to receive a
targeted earn-out payment
of approximately $85 million
based on an adjusted EBITDA
metric for Cree Lighting over
a 12-month period beginning
two years after the transaction closes.
The agreement continues
Cree's strategy, announced
in February 2018, to create a
more focused, powerhouse
semiconductor company,
providing growth capital for
Wolfspeed, its core Power and
RF business, and equips Cree
with additional resources to
expand its semiconductor
operations. The deal also enables Cree Lighting to gain additional global focus, channel
support, and investment as it
becomes a growth engine for
the IDEAL team.
The closing of the transaction is anticipated to occur in
the fourth quarter of Cree's fiscal 2019.

EVALUATION ENGINEERING MAY 2019

Semiconductor materials market
sees record sales in 2018
SEMI's latest Materials Market Data Subscription showed that
the global semiconductor materials market reached a recordhigh in 2018. The figures show that the global semiconductor
materials market grew 10.6% in 2018, boosting its 12-month
revenue to $51.9 billion, surpassing the previous high of $47.1
billion set in 2011. SEMI said 2018's chip market revenue of $468.8
billion was also an all-time high, topping 2017's $412.2 billion,
according to World Semiconductor Trade Statistics.
SEMI recorded that 2018 water fabrication materials and packaging materials revenues totaled $32.2 billion and $19.7 billion,
respectively, with those two segments posting year-over-year
increases of 15.9% and 3.0%.
Taiwan was the world's largest consumer of semiconductor
materials for a ninth-straight year, which SEMI attributes to the
country's large foundry and advanced packaging base. Korea
was second and China was third, flipping from 2017. The materials markets in South Korea (+16%), Europe (+14%), Taiwan
(+11%), and China (+11%) had the strongest revenue growth in
2018, while North America (+6%), Rest of World (+7%), and Japan
(+9%) all had single-digit growth.

Mea su rement solut ions
provider Anritsu Corp. announced April 2 that its board
of directors has named Donn
Mulder as the new president
and chief financial officer of
the company's U.S. subsidiary,
Anritsu Company. Effective
April 1, Mulder now oversees
the corporate business operations of Anritsu Company
in the United States, as well
as the research and development, marketing/field
operations,
and manufacturing
operations
of Anritsu's Mulder
Network and Infrastructure
Business Unit based in
Morgan Hill, CA. Mulder
succeeds Toru Wakinaga,
who held this position and
responsibility for the overall
sales operations in the Anritsu
Americas Sales Region since
September 2017. Mulder's career has spanned nearly four
decades in the test and measurement industry. He started
at Anritsu in 1992 as product
marketing manager and has
served as senior vice president and general manager of
Anritsu Company since 2005.

ON Semiconductor buying
Quantenna for $1B
ON Semiconductor Corporation and Quantenna Communications announced March
27 that they have entered into
a definitive agreement for ON
Semiconductor to acquire
Quantenna for $24.50 per
share in an all-cash transaction. The acquisition consideration represents equity
value of approximately $1.07
billion and an enterprise

Evaluation Engineering

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