Ropes & Gray represented MACOM Technology Solutions Inc. in its entry into Long-Term Supply Agreements (LTSAs) with IQE plc for epitaxial services spanning multiple technologies and in a financing transaction with IQE in parallel with the LTSAs. The proposed investment in IQE will total £45 million, in the form of equity and a convertible loan note. As part of the investment, MACOM will receive representation on IQE’s board of directors. The investment was announced on April 27.
MACOM designs and manufactures semiconductor products for telecommunications, industrial and defense and data center applications. Headquartered in Lowell, Massachusetts, MACOM has design centers and sales offices throughout North America, Europe, and Asia.
IQE supplies advanced wafer products and material solutions to the semiconductor industry.
The team was led by M&A counsel David Dowling and included corporate partner Libby Todd, M&A partner Marko Zatylny, life sciences licensing partner David McIntosh, antitrust partner Ruchit Patel, and tax partner Scott Pinarchick.
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