"Yesterday, ansenmey semiconductor and quantenna communications, in jointly announced that they had reached a final agreement on ansenmey semiconductor's acquisition of quantenna with a full cash transaction of US $24.50 per share and a total price of US $1.07 billion. It is reported that the acquisition significantly enhanced the connection product portfolio of Ansenmei semiconductor and added quantenna's industry-leading Wi Fi technology and software functions.
"We are very pleased to welcome quantenna to the team of Anson semiconductor. The acquisition of quantenna is an important step to strengthen our position in the industrial and automotive markets. Ansenmey semiconductor's patent knowledge in efficient power management, extensive sales and distribution network, combined with quantenna's industry-leading Wi Fi technology and software expertise platform, can enhance our strength in the fast-growing low-power connection market for industrial and automotive applications, "said Keith Jackso, President and CEO of ansenmey semiconductor“ I am very excited about the opportunities created by this acquisition for the customers, shareholders and employees of the two companies. " He added.
Ansenmey builds a moat for industry, automobile and cloud computing
Ansenmey is a world-renowned automotive semiconductor supplier. At the 2019 investment day held recently, Keith Jackson, CEO of the company, said that ansenmey's structural transformation is accelerating and has achieved very good results, taking the automotive, industrial and cloud computing fields as the company's long-term strategic objectives, Diversified products and business models have successfully built a moat for the company. Strong and consistent execution will ensure that the company continues to improve its turnover and profit margin.
Jackson said that the current great innovation in the global science and technology industry is under way. Under the influence of multiple demands such as ADAS, electric vehicles, machine vision, robots, 5g, servers, new energy and energy efficiency, the semiconductor market has developed unprecedentedly, among which automobile, industry and cloud computing are the fastest-growing markets.
For ansenmey, the moat is reflected in the following aspects: firstly, ansenmey's power, sensing and simulation products have built rich differentiation; secondly, ansenmey's factories have rich flexibility and can achieve better cost advantages; thirdly, ansenmey's largest customers account for less than 5% of ansenmey's revenue sources, This means that the company can meet the needs of a variety of end markets and multiple countries.
The specific moat is divided into the areas in the figure by Jackson. First, the most basic manufacturing business, followed by the global sales and application support network. At the top are technical products, including power semiconductors, silicon carbide, image sensors, power management, high-quality products for long life cycle and a wide customer base, Finally, there is a wide product line. At present, the company has about 84000 product portfolios.
Half of ansenmey's products have a life cycle of more than 7 years, which is also in line with its investment in the automotive and industrial fields.
"Compared with five years ago, our free cash flow increased by 3.5 times, gross profit margin and operating profit margin increased by 460 and 660 BPs, and earnings per share increased by 3.5 times." Jackson concluded.
When talking about integration and M & A, Jackson said with this figure that in fact, companies in all walks of life are integrating, and this trend will be more obvious in the future.
For ansenmey, the biggest goal or value of M & A is to return to shareholders, so the return on investment must be greater than the cost of M & A. M & a must have strategic significance, increase the company's leading position in the fields of automobile, industry and cloud computing power supply, and M & A can produce synergy, Including expanding the market share of the company or effectively reducing costs.
"M & A is one of ansenmey's important strategies. We have very strong strength in this field." Jackson stressed.
Quantenna Communications: manufacturer of high performance WiFi chips and devices
Quantenna communications, Inc. (NASDAQ: qtna), founded in November 2005, formerly known as mysource communications, Inc., was changed to its current name in January 2007. Headquartered in Fremont, California, it is a leading designer, developer and marketer of high-speed wireless communication solutions to support WLAN.
Quantenna communications, Inc. aims to provide leading Wi Fi performance to support more and more devices to quickly connect and access the digital content pool. Quantenna combines its Wi Fi system and software expertise with high-performance RF, mixed signal and digital semiconductor design technology to provide customers with highly integrated solutions. Quantenna's technical expertise and focus on innovation enable the company to solve the problem of managing Wi Fi network access to increasingly complex multiple client devices and different high bandwidth content streams, while providing excellent network speed, wide coverage, high capacity and reliability. Quantenna's innovative solutions are committed to the telecommunications service provider market for home network applications (including home gateway, repeater and set-top box (STB)). The company is also increasingly seeking other end markets, including retail, outdoor, small and medium-sized businesses, enterprises and consumer electronics.
As a pioneer of high-performance Wi Fi solutions with significant wireless expertise and deep industry relations, quantenna communications believes that the company is best suited to provide customers with rapidly developing Wi Fi needs in the existing and future terminal markets. Quantenna also believes that the company's important engineering expertise in the field of wireless and communication can be applied to solve other markets other than Wi Fi.
With the improvement of the performance requirements of the next generation Wi Fi, more advanced methods are needed to design high-speed wireless communication products. Quantenna took the lead in making significant improvements to advanced functions such as high-order multiple input and multiple output (MIMO), multi-user MIMO, transmit beamforming and other technologies, so as to achieve better wi fi performance compared with competitors. Quantenna's competitive advantages include support for state-of-the-art specifications, proprietary technology architecture, and advanced software and system level algorithms. In addition, quantenna communications has created a cloud based Wi Fi analysis and monitoring platform to remotely diagnose and repair network inefficiencies.
According to ABI research, the global market for WiFi chipsets is expected to grow from US $3.8 billion in 2016 to US $5.2 billion in 2021, with a CAGR of 7%. Quantenna has sold more than 80 million chips to customers in four semiconductor process generations. Quantenna communications' chip includes transistors using various advanced semiconductor manufacturing technology nodes, which are measured in nanometers to meet different system requirements.
Quantenna communications is currently mass producing 90nm, 65nm and 40nm chips, and is expected to start mass producing 28nm chips in early 2017.
For the year ended December 27, 2015, quantenna communications' global OEM and ODM customers included arris international PLC, Asustek Computer Inc., sagemcom broadband SAS and technolor SA, and these OEM and ODM customers served some major service providers in the United States and internationally.
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