RFMD to sell UK semiconductor facility

GREENSBORO, USA: RF Micro Devices Inc., a global leader in the design and manufacture of high-performance radio frequency solutions, announced an agreement to sell its Gallium Arsenide (GaAs) semiconductor manufacturing facility in Newton Aycliffe, in the UK to Phoenix-based Compound Photonics. Terms of the transaction were not disclosed.

The transaction and product transition are expected to provide RFMD $20 million in annual cost savings, or $5 million per quarter. RFMD expects to realize the full benefit of savings beginning in the December quarter.