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Microsemi beats Skyworks to PMC-Sierra acquisition

Posted: 27 Nov 2015 ?? ?Print Version ?Bookmark and Share

Keywords:Microsemi? PMC-Sierra? Skyworks? acquisition?

Microsemi Corp. has entered into a deal to buy PMC-Sierra Inc., a manufacturer of chips for optical storage and communications. Previous bidder Skyworks Solutions Inc. has announced that its agreement to acquire PMC-Sierra has been terminated and that it is entitled to an $88.5 million termination fee from PMC.

Mixed-signal chip company Microsemi said it will acquire PMC for about $2.5 billion in a deal that is a mix of cash and shares.

"We are pleased PMC has accepted our compelling strategic offer, which clearly benefits shareholders of both Microsemi and PMC. We can now shift our focus to realising the significant synergies identified during our comprehensive analysis," said James Peterson, Microsemi's chair and CEO.

- Peter Clarke
??EE Times Europe

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