Bird & Bird’s Corporate Group advised Phyworks Limited on its sale to Maxim Technology Limited (“Maxim”). Maxim acquired the entire issued share capital of UK-based Phyworks Limited for approximately US $72.5 million in cash on 7 September 2010.
Maxim Technology Limited is a subsidiary of Maxim Integrated Products, Inc, a Nasdaq-listed company that designs, manufactures, and sells high-performance semiconductor products. The acquisition of Phyworks Limited, a manufacturer of optical networking chips, was aimed to broaden Maxim’s offering of technology relating to broadband optical fibre networks.
The team was led by Struan Penwarden and assisted by Laura King, Leah Cairney, Michelle Watson and Fleur Benns.
Struan Penwarden, Partner, Bird & Bird London, commented: “We were very pleased to assist Phyworks and its shareholders in this significant cross-border transaction. Our firm’s strong international M&A capability together with our in-depth knowledge of technology and related transactions allows us to provide the best expertise and service to our clients in deals such as these.”