What is the expected upfront payment for Goertek in the JV with MACOM 
As part of today's product announcement, our FR4 L-PIC is poised to enable 200-gig transceivers later this year at or below the current costs of 100-gig modules. By this point, I hope it's evident we believe our secular growth opportunity in data centers is fully intact.
Our portfolio is expanding geometrically to include DSPs, lasers and L-PICs and our share's growing in a market that is expected to recover if not snap back in the second half of this calendar year. Separating the short-term cyclical from the long-term secular, our future has never been brighter in cloud data centers. Next, on to 5G Telecom. Anyone who attended Mobile World Congress knows that 5G is real, and it's starting in a big way later this year on a global basis in applications ranging from sub-six gigahertz microcell basestations to millimeter wave fixed wireless networks.
We have a great roster of customer meeting in Barcelona with major network operators, as well as leading basestation OEMs worldwide. One clear conclusion from field trials is that GaN is now a requirement for 5G microcell basestations. One major OEM actually tried to use LDMOS because it was all they could source in volume. That failed miserably.
The chief technology officer of one of the largest wireless operators told us that their antennas and field trials were twice the target power consumption and 3x too expensive. Some antennas even had to be liquid cooled. Major players now understand that GaN on silicon uniquely provides it all: target efficiency, costs and a high-volume supply chain. We're now squarely fixated on ramping production with ST in support of the 5G buildout globally.
Marco Monti, president of SD Micro's automotive and discrete group, joined us at our investor event in Barcelona. He outlined how their GaN capacity expansion copy exact in Italy and Singapore will be able to service over 80% of global demand for 5G basestations, exclusively through MACOM and our pending joint venture in China. That brings me to the really big news this quarter, that JV in China. This is the capstone to MACOM's strategy to become a scale player in the multibillion-dollar 5G opportunity worldwide.
We've taken a page out of the semiconductor industry playbook and formed a JV that can credibly and locally service a multibillion-dollar opportunity in China's domestic market. Over the last quarter, we ran a comprehensive process to find a Chinese investment partner. I'm very proud and excited to say that the process concluded with Goertek a proven success story in China. Goertek is a high-volume supplier of semiconductor components, modules and assembled products to the most demanding, smartphone OEMs and service providers worldwide.
Over the last 10 years, they've grown revenue from around $100 million, peaking at over $4 billion growing at over a 40% compound rate during that period. Our 5G GaN on silicon opportunity fits Goertek's operating model perfectly. They source proprietary semiconductor products and technology from industry leaders like TI, Broadcom and Infineon. In this case, they'll source MACOM's GaN and silicon wafers directly from STMicro and supply 5G power amplifiers to China-based OEMs.
OK. Here's the key facts about the transaction. We signed and announced a JV on April 24. We expect the transaction to close in two to four months.
Given Goertek's size, the transaction is subject to antitrust approval from China State Administration for Market Regulation. We've taken great care that the only commodities and technologies that MACOM will share are freely exportable to China under U.S. law. The license products are civil, telecommunications grade or EAR99.
We might as well be selling fountain pens. No technology or existing U.S. business will transfer so we don't expect any issues with U.S. export control precipitous.
Goertek will provide total consideration to MACOM of up to $134.6 million consisting of an upfront payment of $30 million and revenue and profit-based milestone payments. In exchange for a 51% equity stake in the venture. Separately, Goertek and MACOM w
As part of today's product announcement, our FR4 L-PIC is poised to enable 200-gig transceivers later this year at or below the current costs of 100-gig modules. By this point, I hope it's evident we believe our secular growth opportunity in data centers is fully intact.
Our portfolio is expanding geometrically to include DSPs, lasers and L-PICs and our share's growing in a market that is expected to recover if not snap back in the second half of this calendar year. Separating the short-term cyclical from the long-term secular, our future has never been brighter in cloud data centers. Next, on to 5G Telecom. Anyone who attended Mobile World Congress knows that 5G is real, and it's starting in a big way later this year on a global basis in applications ranging from sub-six gigahertz microcell basestations to millimeter wave fixed wireless networks.
We have a great roster of customer meeting in Barcelona with major network operators, as well as leading basestation OEMs worldwide. One clear conclusion from field trials is that GaN is now a requirement for 5G microcell basestations. One major OEM actually tried to use LDMOS because it was all they could source in volume. That failed miserably.
The chief technology officer of one of the largest wireless operators told us that their antennas and field trials were twice the target power consumption and 3x too expensive. Some antennas even had to be liquid cooled. Major players now understand that GaN on silicon uniquely provides it all: target efficiency, costs and a high-volume supply chain. We're now squarely fixated on ramping production with ST in support of the 5G buildout globally.
Marco Monti, president of SD Micro's automotive and discrete group, joined us at our investor event in Barcelona. He outlined how their GaN capacity expansion copy exact in Italy and Singapore will be able to service over 80% of global demand for 5G basestations, exclusively through MACOM and our pending joint venture in China. That brings me to the really big news this quarter, that JV in China. This is the capstone to MACOM's strategy to become a scale player in the multibillion-dollar 5G opportunity worldwide.
 We've taken a page out of the semiconductor industry playbook and formed a JV that can credibly and locally service a multibillion-dollar opportunity in China's domestic market. Over the last quarter, we ran a comprehensive process to find a Chinese investment partner. I'm very proud and excited to say that the process concluded with Goertek a proven success story in China. Goertek is a high-volume supplier of semiconductor components, modules and assembled products to the most demanding, smartphone OEMs and service providers worldwide.
Over the last 10 years, they've grown revenue from around $100 million, peaking at over $4 billion growing at over a 40% compound rate during that period. Our 5G GaN on silicon opportunity fits Goertek's operating model perfectly. They source proprietary semiconductor products and technology from industry leaders like TI, Broadcom and Infineon. In this case, they'll source MACOM's GaN and silicon wafers directly from STMicro and supply 5G power amplifiers to China-based OEMs.
OK. Here's the key facts about the transaction. We signed and announced a JV on April 24. We expect the transaction to close in two to four months.
Given Goertek's size, the transaction is subject to antitrust approval from China State Administration for Market Regulation. We've taken great care that the only commodities and technologies that MACOM will share are freely exportable to China under U.S. law. The license products are civil, telecommunications grade or EAR99.
We might as well be selling fountain pens. No technology or existing U.S. business will transfer so we don't expect any issues with U.S. export control precipitous.
Goertek will provide total consideration to MACOM of up to $134.6 million consisting of an upfront payment of $30 million and revenue and profit-based milestone payments. In exchange for a 51% equity stake in the venture. Separately, Goertek and MACOM w