Microsemi Corporation to Acquire Vitesse Semiconductor Corporation-- Expands differentiated technology offering for strategic communication infrastructure applications and customers
-- Increases traction in carrier, enterprise and industrial-IoT markets enabling broader solution sale
-- Delivers immediate EPS accretion and synergies
Microsemi Corporation; Vitesse Semiconductor Corporation 1 hour ago
ALISO VIEJO, Calif. and CAMARILLO, Calif., March 18, 2015 /PRNewswire/ -- Microsemi Corporation ( MSCC), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, and Vitesse Semiconductor Corporation ( VTSS), jointly announced today that Microsemi has entered into a definitive agreement to acquire Vitesse for $5.28 per share through a cash tender offer, representing a premium of 32 percent based on the average closing price of Vitesse's shares of common stock during the 30 trading days ended March 17, 2015. The board of directors of Vitesse unanimously recommends that Vitesse's stockholders tender their shares in the tender offer. The total transaction value is approximately $389 million. |
