IRVINE, Calif., April 16, 2009 (GLOBE NEWSWIRE) -- Microsemi Corporation (Nasdaq:MSCC), a leading manufacturer of high performance analog mixed signal integrated circuits and high reliability semiconductors, today announced that it acquired the Space Level Power Products business of Spectrum Microwave, Inc., a wholly-owned subsidiary of Spectrum Control, Inc. (Nasdaq:SPEC).
Spectrum Microwave, Inc. (Spectrum) is a leading provider of RF and Microwave components and systems. The acquired technology consists of MIL-PRF 38534 power products for the Satellite and high-reliability markets including Rad Hard linear regulators, Rad Hard switching regulators, and Rad Hard point of load (POL) devices.
"This acquired technology is synergistic for us on many fronts," stated James J. Peterson, President and Chief Executive Officer of Microsemi Corporation. "Not only does it complement our internally developed Rad Hard and Rad Tolerant transistor products but it also creates synergy with our recently-acquired DC-DC power management solutions group, allowing us to ultimately increase our opportunity within the attractive Satellite and Space markets. By integrating this business into our Lawrence, Massachusetts facility, we expect to further increase our operational efficiencies."
This strategic technology acquisition will have minimal revenues associated with it for the next several quarters. Microsemi will further discuss this acquisition and provide general business updates during its second quarter results conference call on April 23rd.
About Microsemi
Microsemi Corporation, with corporate headquarters in Irvine, California, is a leading designer, manufacturer and marketer of high performance analog and mixed-signal integrated circuits and high reliability semiconductors. 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 http://www.microsemi.com.
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements concerning our guidance on Microsemi's financial results, and the expected operational, technology, synergy, and other benefits of the acquisition, are forward-looking statements. These forward-looking statements are based on our current expectations and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The potential risks and uncertainties include, but are not limited to, such factors as rapidly changing technology and product obsolescence, potential cost increases, variations in customer order preferences, weakness or competitive pricing environment of the marketplace, uncertain demand for and acceptance of the company's products, adverse circumstances in any of our end markets, results of in-process or planned development or marketing and promotional campaigns, difficulties foreseeing future demand, potential non-realization of expected orders or non-realization of backlog, product returns, product liability, and other potential unexpected business and economic conditions or adverse changes in current or expected industry conditions, difficulties and costs of protecting patents and other proprietary rights, inventory obsolescence and difficulties regarding customer qualification of products. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in the company's most recent Form 10-K and all subsequent Form 10-Q reports filed by Microsemi with the SEC. Additional risk factors may be identified from time to time in Microsemi's future filings. 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.