indie Semiconductor has appointed Steve Machuga as Chief Operating Officer to enhance its supply chain and operations. Previously a VP at Skyworks Solutions, Machuga aims to drive revenue growth and improve gross margins as indie scales its operations to meet increasing global demand for automotive semiconductors. The company, merging with Thunder Bridge Acquisition II (Nasdaq: THBR), plans to capitalize on projections of a significant market increase in automotive applications, expected to grow from $16 billion in 2020 to $38 billion by 2025.
indie, an Autotech semiconductor innovator merging with Thunder Bridge Acquisition II (Nasdaq: THBR), has appointed David J. Aldrich to its board of directors. Aldrich, an industry veteran, previously served as CEO and executive chairman of Skyworks Solutions. His expertise in growing businesses and optimizing M&A is seen as crucial as indie prepares for its public listing. The merger is expected to close in Q1 2021, contingent on regulatory approvals. indie aims to capitalize on the growing demand for automotive semiconductors, particularly for advanced safety applications.
indie Semiconductor and Thunder Bridge Acquisition II have announced a definitive agreement for a business combination, creating a publicly listed company valued at approximately $1.4 billion. This merger positions indie at the forefront of automotive semiconductor innovation, addressing a market expected to grow from $16 billion to over $38 billion by 2025. The transaction is anticipated to close in the first quarter of 2021, pending shareholder approval.