© Copyright Acquisition International 2024 - All Rights Reserved.

Article Image - Microsemi Successfully Completes Acquisition of Vitesse
Posted 30th April 2015

Microsemi Successfully Completes Acquisition of Vitesse

Microsemi Corporation, a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, and Vitesse Semiconductor Corporation jointly announced today that Microsemi's wholly-owned subsidiary LLIU100 Acquisition Corp. successfully merged into Vitesse, comp

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Microsemi Successfully Completes Acquisition of Vitesse

Microsemi Successfully Completes Acquisition of Vitesse

View Biography
Microsemi

Microsemi Corporation, a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, and Vitesse Semiconductor Corporation  jointly announced today that Microsemi’s wholly-owned subsidiary LLIU100 Acquisition Corp. successfully merged into Vitesse, completing Microsemi’s acquisition of Vitesse under Section 251 of the General Corporation Law of the State of Delaware , with no vote of Vitesse’s stockholders required to consummate the merger.

At the effective time of the merger, each outstanding share of Vitesse (other than shares directly owned by Vitesse and its subsidiaries, Microsemi or LLIU100 Acquisition Corp. and shares held by stockholders that are entitled to and properly demand appraisal of such shares under Delaware law) was converted into the right to receive $5.28 per share in cash, without interest and less any applicable withholding taxes, the same price that was paid in the tender offer. Following the merger, Vitesse shares will cease to be traded on Nasdaq.

Headquartered in Camarillo, California, 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. Vitesse’s products enable the fastest-growing network infrastructure markets including mobile access/IP edge, enterprise cloud access, and industrial IoT networking.

Microsemi continues to expect the acquisition of Vitesse will be accretive in its first full quarter, ended Sept. 27, 2015. Further, Microsemi sees approximately $20 million of cost savings-related synergies on an annual basis, driving $0.16-$0.20 of EPS accretion in its first full fiscal year ending Sept. 30, 2016.

Categories: Finance, M&A, Strategy


You Might Also Like
Read Full PostRead - Eye Icon
Micro-Investing for Millennials: Building Wealth in Spare Change
News
19/02/2024Micro-Investing for Millennials: Building Wealth in Spare Change

Start building your wealth with micro-investing. Learn on acquisition-international.com how spare change from daily transactions can grow into a substantial portfolio. Begin your investment journey today.

Read Full PostRead - Eye Icon
As the Media Frenzy From GDPR Dies Down, Companies Need To Reman Vigilant Against Data Breaches
Legal
10/09/2019As the Media Frenzy From GDPR Dies Down, Companies Need To Reman Vigilant Against Data Breaches

When the GDPR legislation was being created there was a flurry of media reports and business commentary on the importance of data safety, with companies and individuals alike scrutinising their own policies and working on improvement. A little more than a year

Read Full PostRead - Eye Icon
Critical Value of Hotlines In Helping Staff ‘Speak Up’ About Wrongdoing
News
05/07/2023Critical Value of Hotlines In Helping Staff ‘Speak Up’ About Wrongdoing

Whistleblowing hotlines and multi-channel approaches are crucial to the successful implementation of an organisations’ whistleblowing policy.

Read Full PostRead - Eye Icon
Cybersecurity Awareness 101: How To Educate Your Employees To Stay Safe
News
18/11/2022Cybersecurity Awareness 101: How To Educate Your Employees To Stay Safe

Cybersecurity is becoming a critical issue globally, given the heavy Internet usage for businesses. Hackers find it easy to crack into your system and acquire sensitive information. In fact, during the second quarter of 2022, there were approximately 52 millio

Read Full PostRead - Eye Icon
Selescope Advises Capital Export’s Backing of Celec BIMBO
Legal
24/06/2015Selescope Advises Capital Export’s Backing of Celec BIMBO

Selescope Advises Capital Export's Backing of Celec BIMBO

Read Full PostRead - Eye Icon
Challenging the Status Quo
News
16/08/2023Challenging the Status Quo

As an innovator in the chargeback management and chargeback solutions space, Chargeback911 has cultivated a rich reputation for helping fight in the corner for those dealing with fraud in an online space.

Read Full PostRead - Eye Icon
How To Protect Your Business from Modern Threats
Innovation
25/11/2022How To Protect Your Business from Modern Threats

The dangers facing businesses are ever evolving and becoming more and more deadly as times goes on. As many blessings has technology has brought, it has brought with it an element of malice for those intending to use it for the wrong purpose.

Read Full PostRead - Eye Icon
Merill Datasite Provide VDR during AIP Acquisition of Remaining Stake in the Central Area Transmissi
Finance
03/06/2015Merill Datasite Provide VDR during AIP Acquisition of Remaining Stake in the Central Area Transmissi

Antin Infrastructure Partners Acquisition of Remaining Stake in the Central Area Transmission System

Read Full PostRead - Eye Icon
The Future of Retail: 4 Key Challenges to Watch Out For
News
03/10/2023The Future of Retail: 4 Key Challenges to Watch Out For

The retail industry is facing a tough test in 2023, and there are many signs that it will be another challenging year for many businesses.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow