Microsemi is acquiring Vitesse Semiconductor in a cash deal for $389million.Microsemi is acquiring Vitesse Semiconductor in a cash deal for $389million.
"This acquisition is further evidence of Microsemi's continuing commitment to grow as a communications semiconductor company," said James Peterson, Microsemi's chairman and CEO. "Vitesse's highly complementary technology suite will expand our product offering and accelerate growth with differentiated technology in emerging markets, while benefitting from the increased scale, consolidated infrastructure and cost savings of the combined entity."
Vitesse is a fabless developer of communications technology, with a focus on Ethernet devices for carrier, enterprise and IoT applications.
Chris Gardner, Vitesse's CEO, added: "I believe Microsemi will be able to leverage Vitesse's Ethernet technology and capabilities further into the communications market and has the scale to implement the adoption of our industrial IoT strategy."
Author
Graham Pitcher
Source: www.newelectronics.co.uk