CML Microsystems Plc, a company that develops semiconductors for global communications markets, has provided a trading update at its Annual General Meeting. The Group has started the new financial year positively and is on track to achieve further growth and improvements in revenues and operational profit. Discussions with US authorities regarding the proposed acquisition of Microwave Technology, Inc (MwT) are progressing, with a conclusion expected before September 30, 2023. The Board has successfully guided the business through significant events, returning over £24m to shareholders and simplifying the operating structure. The Board composition will be enhanced to support the long-term growth of the business, coinciding with the pending MwT acquisition. The Board remains excited about the growth potential through organic and acquisitive means.