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Mergers and Acquistions News

Categories: Semi-Conductors, Hardware

October 4th 2010, 16:54PM

Microsemi, a US maker of high-performance semiconductors, will acquire Actel Corporation, a manufacturer of low-power circuit tools, for around $430 million (£271 million), to grow in the aerospace market.

California-based Actel supplies mixed-signal gate arrays to the military, aerospace, industrial, communication and consumer markets.

Based on current assumptions, Microsemi expects the acquisition to increase the value of shares between $0.22 to $0.28 by the end of next year.

The firm says its net sales for September are likely to post between $146 and $150 million.

"We believe the addition of Actel will deliver compelling synergies to Microsemi," stated James J Peterson, the organisation's president and chief executive officer.

Mr Peterson's counterpart at Actel, John C East, welcomed the deal, saying: "I can think of no company more complementary and better equipped to take Actel's solutions to new heights."

At the time of writing Actel's share price stood at $20.95 on the Nasdaq, a price change of 30.77 per cent.
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