CML Microsystems Plc has received formal clearance from the US Government to proceed with the acquisition of Microwave Technology, Inc. (MwT). The acquisition is expected to be completed during the first week of October 2023. In connection with the acquisition, CML has signed a National Security Agreement (NSA) with the relevant US government agencies, which requires the company to implement specific measures to oversee compliance with the NSA. CML develops mixed-signal, RF, and microwave semiconductors for global communications markets and targets sub-segments within communication markets with strong growth profiles and high barriers to entry. The company has a diverse customer base and operates in the UK, Asia, and the USA. The growth in its end markets is driven by factors such as the increasing demand for faster and more secure data transmission, telecoms infrastructure upgrades, and the growing prevalence of private commercial wireless networks for voice and data communications linked to the industrial internet of things (IIoT).