US firm Skyworks walked away from $390m Rakon bid due to Chinese compliance concerns

Rakon’s CEO Sinan Altug and director Brent Robinson. Robinson says he’ll throw his hat in the ring to be Rakon’s new chair. (Image: BusinessDesk/Getty/Supplied)

Rebecca Stevenson

Thu, 01 May 2025

A $390 million takeover proposal for advanced manufacturer Rakon failed due to concerns that Nasdaq-listed semiconductor manufacturer Skyworks held about the New Zealand firm’s compliance with US technology export controls.On Monday, Rakon divulged it had dropped an unnamed Chinese customer it said was responsible for about 5% of its revenue in the 2025 financial year after a review. A years-long BusinessDesk investigation found that at the centre of the revelations, Rakon had also been engaging with regulatory authorities to ensure...

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