Microsemi to buy military solutions provider TSI

Analog/mixed-signal IC manufacturer Microsemi Corp. has acquired TSI Microelectronics Corp. (TSI), which supplies the U.S. Department of Defense and its OEM contractors hybrids and other special products used in mature, long-life defense and aerospace programs. Total consideration for TSI was $2 million in cash, which includes the company's cash position of approximately $0.6 million. Microsemi expects the acquisition will be immediately accretive.

"We believe there are several synergistic opportunities that will result from the acquisition of TSI,'' stated James Peterson, president and CEO of Microsemi. "First, we plan to grow significantly TSI's business by leveraging our sales force in order to transition their current custom parts-only business into a standard products business. This refocus will result in a larger addressable market for Microsemi as well as higher growth rates. Second, and perhaps most important, we expect to utilize TSI's advanced packaging and substrate technologies to develop high-margin and high-ASP ICs, modules and subsystems for RF, microwave and millimeter wave applications.''