CML Microsystems Plc has completed the acquisition of Microwave Technology, Inc. (MwT), a company that specializes in the design, manufacturing, and marketing of GaAs and GaN Based MMICs, Discrete Devices, and Hybrid Amplifier Products for various applications. MwT was previously part of IXYS Corporation and underwent a management buy-out in 2019. The acquisition expands CML's product portfolio, strengthens its support resources, and increases its R&D capabilities. The majority of MwT's focus and client concentration is within the USA, and CML sees an opportunity to increase its market share by internationalizing MwT's products. The total consideration for the acquisition is $13.18 million, with $7.65 million payable in cash and $5.53 million payable in shares. MwT's unaudited US GAAP results for the 12-month period to December 31, 2022, recorded revenue of $6.5 million and a pre-tax loss of $132,000. CML expects MwT to be earnings enhancing in its first full year of ownership. Dr. Nathan Zommer, MwT's current Chairman, is expected to join the CML Board of Directors in a non-executive capacity, subject to completion of normal regulatory due diligence checks. The Initial Consideration Shares will be admitted to trading on AIM on October 3, 2023.