In-play NZX-listed high tech manufacturer Rakon is targeting AI, cloud and next generation telecoms applications with its next generation MercuryX technology.
The MercuryX integrated circuit - oven controlled crystal oscillator range expanded the firm's AI play by combining Rakon’s in-house designed Mercury+ semiconductor chip with the company’s XMEMS quartz crystal resonators.
"Rakon continues to work closely with leading players in AI computing hardware to enable the next generation platforms, and is projecting tangible substantial benefits, in terms of design wins, collaborations, and potential revenue growth, within the next 12-15 months," the company told shareholders today.
On December 11, Rakon announced it had received an unsolicited $391 million, non-binding, indicative proposal for the acquisition of all of the company's shares.
Updating shareholders a week ago, the company said an independent committee was continuing to assess whether the proposal was in the interests of shareholders and whether it could be developed into a transaction to be presented to shareholders for consideration.
"Rakon will continue to keep shareholders informed by market announcement in accordance with its continuous disclosure obligations but, given the confidentiality agreements it has reached, will not otherwise be providing further comment," the company said.
For the six months to 30 September, 2023, Rakon's revenue declined 30 per cent year-on-year from $87.2 million to $61.3 million. The compay told shareholders the result reflected industry-wide challenges and the completion of one-off chip shortage contracts
The MercuryX range delivers precise timing and synchronisation for data centres to meet the additional demands created by AI workloads as well as having applications in 5G networks, Rakon said.