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C-MAC MicroTechnology also plans to make strategic acquisitions in the near future. Initiatives put in place to help support this continued growth including a significant increase in both R&D and manufacturing investment, which will build upon core technology skills in high frequency, high power electronics design. Based in Auckland, New Zealand, its has offices in North America, Europe and Asia and claims to supply 50 to 60 per cent of the world’s GPS market.Ĭ-MAC MicroTechnolgy will now focus on high reliability hybrid microelectronics solutions for automotive, aerospace and defense electronics and will additionally engage with specialist industrial/ medical applications. Rakon says the FCP business will effectively continue to operate in its current form and under the agreed terms of the acquisition, Rakon have been granted the rights to continue using the C-MAC trademark and logo for a period of 18 months.įounded in 1967 Rakon designs and manufactures quartz crystals and oscillators for demanding applications such as GPS and wireless communications. FCP not only has a very strong European base but a global presence that complements and builds on our existing structure.” This was a 25 percent increase in revenue and 483 percent increase in EBITDA on the prior year.īrent Robinson, Rakon's managing director said, “This is a key step in making Rakon a truly global enterprise with a diverse product range and strong relationships with blue chip customers in a wider range of high growth industries. Rakon says that for the 12 months ended August 31, 2006, revenue for the FCP business was NZ$63.8 million (about $44 million) and earnings before interest, taxation, depreciation and amortization (EBITDA) were NZ$7 million (about $5 million). The FCP business employs approximately 240 people.
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It also includes a engineering and development facility in Harlow U.K., plus its sales and distribution centers in Shenzhen (China), Durham, NC (U.S.) and Crewkerne (U.K.). The divestiture, which represents approximately one quarter of the business, consists of C-MAC MicroTechnology’s two FCP manufacturing facilities in Lincoln (U.K.), and Argenteuil (France). C-MAC says double digit growth in the FCP division led to an acquisition approach by Rakon (Auckland, New Zealand) for the unit.