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Technology Stocks : PMC-Sierra (PMCS)
PMCS 11.650.0%Jan 25 3:00 PM EDT
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From: Sr K10/6/2015 8:57:54 AM
2 Recommendations

Recommended By
Eric L
The Ox

   of 3818
 
Oct 6, 2015

3:53 am PMC-Sierra to be acquired by Skyworks (SWKS) for $10.50 per share (PMCS) :

Skyworks Solutions (SWKS) and PMC-Sierra (PMCS) announced a definitive agreement under which Skyworks will acquire PMC for $10.50 per share in an all-cash transaction valued at ~$2 billion.

. This acquisition solidifies Skyworks' position as a highly diversified analog, RF and mixed signal semiconductor leader by significantly expanding its product portfolio, customer base and end market applications.

. Upon completion of the acquisition, Skyworks expects annual revenues of more than $4 billion with gross margin in the 55 percent range and operating margin exceeding 40 percent.
. Immediately accretive to non-gaap earnings upon close
. $75 mln of annual cost synergies targeted within 12 months, adding $0.75 of earnings power on an annual non-gaap basis

. Skyworks expects Q4 FY15 results to be better than guidance
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