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Industry

Microchip Technology buys defence electronics supplier for USD8.3 billion

02 March 2018

US semiconductor manufacturer Microchip Technology Inc announced on 1 March that it had agreed to acquire Microsemi Corporation, a supplier of power management, communications, and security electronics to a variety of industries, including aerospace and defence.

The transaction, which has already been approved by the boards of both companies, will be completed through a share purchase at a price of USD68.78 per share, valuing Microsemi at USD8.35 billion.

“Microchip and Microsemi have a strong tradition of delivering innovative solutions to demanding customers and markets, thus creating highly valued and long-lasting revenue streams,” Ganesh Moorthy, President and COO of Microchip Technology, said.

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