SkyWater Technology Foundry, Inc.
SkyWater Technology Foundry, Inc. (“SkyWater”) (f/k/a Cypress Semiconductor Minnesota, Inc. “CMI” as a division of Cypress Semiconductor, Inc.) designs, manufactures and builds to scale semiconductor wafer based technologies for the consumer, industrial, military and automotive applications, including: CMOS semiconductors, mixed-signal and RF devices, MEMS, sensing and imaging, silicon photonics and superconducting/quantum computing. SkyWater, headquartered in Bloomington, MN is the most advanced domestically owned and US-based Trusted Foundry serving the needs of the US government. SkyWater is accredited by Defense Microelectronics Activity (DMEA) as a Category 1 trusted Fab for design, foundry, test and broker services. Since the early 1990’s SkyWater and its predecessor have been the leading semiconductor manufacturer for wafer-based technologies in the US and utilized worldwide.
What did SkyWater require from a private equity investor?
SkyWater is accredited by Defense Microelectronics Activity (DMEA) as a Category 1 trusted Fab for design, foundry, test and broker services. Since the early 1990’s SkyWater and its predecessor have been the leading semiconductor manufacturer for wafer-based technologies in the US and utilized worldwide.
For more than 30 years, the facility has produced high-quality semiconductors. In SkyWater, we saw the opportunity to build a global franchise with talented employees and excellent products that pioneered the market. We have built a technology leader with a powerful and growing brand. However, because CMI was an under-managed, non-core division of Cypress, Oxbow also realized that there was an opportunity to implement cost-saving programs, which would substantially improve profitability, as well as to grow the business through increased sales of non-Cypress wafer production and through increased sales to the United States Government through its Trust Foundry designation. In addition, Oxbow has augmented the executive with key hires at the executive level, including: President, Chief Financial Officer, Director of Operations and several new sales professionals. Oxbow has hired very capable executives that drove significant improvements in areas such as operations, sales, and finance. We also ensured SkyWater has sound advice coming from its board members.
Oxbow immediately set out to align ourselves with SkyWater’s then 400+ employees. We added needed benefit programs, significant equity options and a potentially lucrative profit sharing plan to a very broad group of employees. Oxbow gained the confidence of the employees by laying out a strategy for SkyWater to be the premier provider of domestic semiconductor fabrication and engineering services in the country.
Visit Skywater: www.skywatertechnology.com