• Acuity advises CML on the sale of Hyperstone to Swissbit

    DIVESTITURE

CML Microsystems Plc (“CML”) has entered into a definitive agreement to divest its storage division, Hyperstone, to Swissbit Holding AG (“Swissbit”), a specialist producer of industrial-grade data storage and embedded IoT solutions, for $49 million in cash (the “Disposal”).

Acuity Advisors’ Andy Lister, Matthew Byatt, David Copp and Jessica Sutherland-Martin advised CML on the transaction.

Hyperstone is a fabless semiconductor company with a focus on world-class flash memory controllers for industrial embedded markets. Hyperstone’s products set the standard for flash management, providing highly reliable NAND flash performance in mission critical situations. The company has offices in Germany, Taiwan and the USA.

Under CML’s ownership, Hyperstone has grown to become a leading supplier of flash memory controllers, supplying some of the world’s largest OEMs with class-leading solutions.

The acquisition of Hyperstone strengthens Swissbit’s position as an independent European manufacturer of memory and security products and enables joint development of innovative solutions in attractive growth markets including security and embedded IoT.

The Disposal is expected to close in the first few weeks of 2021, subject to obtaining necessary regulatory approvals and other customary closing conditions.

Chris Gurry, CEO of CML, commented:

“We selected the Acuity team to work with CML on this transaction for a number of reasons, including their sector-specific M&A track-record and for their technology-driven approach. Through the process they did not disappoint, understanding the inherent core values of the business and working tirelessly and efficiently to achieve a successful outcome for all stakeholders. We would like to thank them for their invaluable support throughout.”

Andy Lister, Partner at Acuity Advisors, commented:

“We are delighted to have worked with the teams at CML, Hyperstone and Swissbit on this transaction. Hyperstone has built a world-leading position supplying its proprietary, leading-edge technology into demanding industrial markets and we wish the Hyperstone team every success under Swissbit’s stewardship.”

Matthew Byatt, Managing Partner at Acuity Advisors, commented:

“It has been a privilege for Acuity Advisors to work with CML on their sale of Hyperstone and its class-leading, industrial solid state storage solutions. As a key player in mid-market semiconductor M&A, Acuity has been able to access our extensive international network to find the right buyer for Hyperstone. I wish them every success for the future.”

“We selected the Acuity team to work with CML on this transaction for a number of reasons, including their sector-specific M&A track-record and for their technology-driven approach. Through the process they did not disappoint, understanding the inherent core values of the business and working tirelessly and efficiently to achieve a successful outcome for all stakeholders. We would like to thank them for their invaluable support throughout.”

CHRIS GURRY | CEO
CML

Andy has spent the last ten years advising entrepreneurs, shareholders and boards on business sales, acquisitions, equity fund raisings, valuations and strategic reviews. Andy has worked with clients in a number of technology-enabled sectors, including smart infrastructure, the internet of things, M2M communications and clean technology, and has also worked with a number of high growth manufacturing and industrial distribution businesses.

Andy has a particular interest in cross border M&A, has completed deals with North American, European, African and Asian counterparties, and brings practical emerging markets experience having worked as an M&A advisor in India from 2008 – 2010.

Andy is a prize-winning chartered accountant, qualifying in 2004 with KPMG in Leeds, before joining KPMG’s Corporate Finance team in London in 2005. Andy was a Director at KPMG before joining Acuity in July 2015.

SUBSCRIBE TO SUCCESSES UPDATES