Microsemi receives takeover approach; explores options
25 January 2018
Microsemi Corp, the largest commercial supplier of military and aerospace semiconductor equipment in the US, is exploring its options, including a possible sale, after it received a takeover approach, Reuters yesterday reported, citing a person familiar with the matter.
Microsemi has hired investment bank Qatalyst Partners to advise it on the best course of action, the report said.
Founded in 1959 and based in California, Microsemi has a portfolio of semiconductor and system solutions for aerospace and defence, communications, data centre and industrial markets.
Its products include high-performance and radiation-hardened analog mixed-signal integrated circuits, FPGAs, SoCs and ASICs; power management products; timing and synchronisation devices and precise time solutions, setting the world's standard for time; voice processing devices; RF solutions; discrete components; enterprise storage and communication solutions, security technologies and scalable anti-tamper products; Ethernet solutions; Power-over-Ethernet ICs and midspans; as well as custom design capabilities and services.
It has supplied semiconductor solutions for several US space programs dating back to the launch of the first Atlas rocket. Several of Microsemi's space products were used in the historic landing of the Mars Curiosity Rover in 2012.
Microsemi products were also used for mission critical applications such as launch systems, avionics, telemetry, navigation, drive control, mission computers, cameras and other instruments.
It has grown through acquisitions and has acquired 32 companies since it was founded 59 years ago.
It employs 4,800 people globally, has annual revenues of $1.65 billion and market cap of nearly $7 billion.