RF Micro Closes on $25M Purchase of U.K. Semiconductor Firm

GREENSBORO, N.C. — RF Micro (Nasdaq: RFMD) has wrapped up its $25 million purchase of Filtronic Compound Semiconductors, which is based in the United Kingdom.

The deal includes a fabrication facility and a radio frequency semiconductor business.

According to RF Micro, the deal will not only boost its production capacity but also help cut production costs.

RF Micro also said Monday that it had repurchased some $100 million in repurchasing approximately 30 million shares at an average price of $3.27. The repurchase to date has cut the number of outstanding shares by 10 percent to 262 million. The company said on Jan. 31 that it would repurchase up to $150 million in stock.

RFMD shares closed at $3.04, down 14 cents.