Microchip to Buy Microsemi for $8.35 Billion
2018-03-08 11:07:21
SAN FRANCISCO — Microchip Technology plans to acquire Microsemi Corp. for about $8.35 billion in cash under the terms of a definitive agreement announced Thursday (March 1).
The deal would significantly expand Microchip's presence in several end markets, including the communications and aerospace and defense markets, which make up about 60 percent of Microsemi's sales. Microchip said the acquisition would expand its serviceable market by about $18 billion to more than $50 billion.
The combined company would have annual sales of about $5.8 billion, based on each firm's revenue in the fourth quarter of 2017.
Steve Sanghi
Steve Sanghi
"Microchip continues to view accretive acquisitions as a key strategy to deliver incremental growth and stockholder value," said Steve Sanghi, Microchip's chairman and CEO, in a press statement. "The Microsemi acquisition is the latest chapter of this strategy and will add further operational and customer scale to Microchip."
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