IRVINE, Calif., Sept. 14, 2010 (GLOBE NEWSWIRE) -- Microsemi Corporation (Nasdaq:MSCC), a leading manufacturer of high performance analog mixed signal integrated circuits, high reliability semiconductors, and radio frequency (RF) subsystems, today announced that it has acquired all of the assets of VT Silicon.
VT Silicon, located in Atlanta, GA, designs and manufactures multi-band radio frequency integrated circuit (RFIC) solutions for the mobile wireless broadband market. VT Silicon's products leverage linearization and efficiency-enhancement technologies to enable highly efficient, low-cost and small-footprint intelligent Front-End RFIC solutions.
"We are pleased to extend our industry leading RF product offering to next generation WLAN and WiMax markets with the acquisition of VT Silicon," said James J. Peterson, President and Chief Executive Officer of Microsemi Corporation. "As the first supplier in the world to develop a monolithic front end RFIC in Silicon Germanium (SiGe), VT's technology caliber is designed to enable Microsemi to deliver innovative, highly-integrated front-end modules to our customers. The acquisition of VT Silicon extends Microsemi's technology leadership in the RF business and reflects our continuing commitment to this important market."
According to a recent report published by Strategy Analytics, the worldwide installed base of consumer wireless devices will exceed 2.6 billion by 2014. This high volume global growth market, which necessitates technology differentiation, typifies the kind of commercial business Microsemi targets for leadership. Microsemi's balanced business model blends high-volume commercial market opportunities with the growth and content opportunities of its Aerospace, Defense and Security end markets. Microsemi intends to discuss this acquisition during its fiscal year-end earnings conference call to be scheduled in November.
About Microsemi Corporation
Microsemi Corporation, with corporate headquarters in Irvine, California, is a leading designer, manufacturer and marketer of high performance analog and mixed-signal integrated circuits, high reliability semiconductors and RF subsystems. The company's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals.
Microsemi's products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance and reliability, battery optimization, reducing size or protecting circuits. The principal markets the company serves include implanted medical, defense/aerospace and satellite, notebook computers, monitors and LCD TVs, automotive and mobile connectivity applications. More information may be obtained by contacting the company directly or by visiting its website at .
The Microsemi Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1233
This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The reader is cautioned not to put undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties and other factors, many of which are outside the control of Microsemi. The forward-looking statements in this release address a variety of subjects, including the potential benefits of the acquisition of VT Silicon and the anticipated high rate of growth in themobile wireless broadband market. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the risk that VT Silicon's business will not be successfully integrated with Microsemi's business and product suite; the risk that VT Silicon's products will not successfully extend Microsemi's offerings into next generation WLAN and WiMax markets; costs associated with the acquisition; failure to achieve expected gross margins and operational and other cost synergies; negative or worsening worldwide economic conditions or market instability; unfavorable conditions in end markets; potential non-realization of expected orders or non-realization of backlog; and difficulties in closing or disposing of operations or assets or transferring work from one plant to another. The forward- looking statements included in this release speak only as of the date hereof, and Microsemi does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
CONTACT: Microsemi Corporation Financial Contact: John W. Hohener, Executive Vice President and CFO Investors: Robert C. Adams, Vice President of Corporate Development (949) 221-7100