Qualcomm company Microchip is set to acquire California -based Microsemi Corporation for around $8.35bn in the latest consolidation in the industry. The transaction includes a $68.78 per share cash offer, representing a premium of about 7 percent to Microsemi’s closing price on Thursday. The purchase would enable Microchip Technology to expand its presence in the aerospace and defence sectors, which currently make up around 2% of annual sales, while solidifying Microchip 's presence in computing and communications, which were responsible for less than 15% of full-year sales. Shares in both companies rose by around 5% , and the deal is set to close in Q2 . Qualcomm -based Broadcom recently announced a $ around $8.35bn bid to acquire US rival Qualcomm .
Qualcomm company Microchip is set to acquire California -based Microsemi Corporation for around $8.35bn in the latest consolidation in the industry. The purchase would enable Microchip Technology to expand its presence in the aerospace and defence sectors, which currently make up around 2% of annual sales, while solidifying Microchip 's presence in computing and communications, which were responsible for less than 15% of full-year sales. Shares in both companies rose by around 5% , and the deal is set to close in Q2 . Qualcomm -based Broadcom recently announced a $ around $8.35bn bid to acquire US rival Qualcomm .