Microsemi to Acquire Vitesse Semiconductor

Microsemi has entered into a definitive agreement to acquire Vitesse Semiconductor for approximately $389 million through a cash tender offer.

Vitesse designs a diverse portfolio of high-performance semiconductors, application software and integrated turnkey systems solutions for carrier, enterprise and Internet of Things (IoT) networks worldwide.

Subject to regulatory approvals, the deal is expected to close in Microsemi’s fiscal third quarter, ending June 28, 2015.