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Corporation, one of the
leading manufacturers of high-performance, analog mixed-signal
integrated circuits, high-reliability semiconductors and RF
subsystems, has announced that it has entered into a definitive
agreement to acquire Actel Corporation for $20.88 per share through a
cash tender offer. The total transaction value is approximately $430
million, net of Actel's projected cash balance at closing.
Headquartered in Mountain View,
California, Actel is one of the leading suppliers of low-power,
mixed- signal, and radiation-tolerant field programmable gate arrays
(FPGAs) serving the industrial, communication, and consumer markets.
The company is the leader in the satellite and space markets as a
result of its deep knowledge of radiation tolerance, space-level
qualifications, and its long history of service excellence. “We
believe the addition of Actel will deliver compelling synergies to
Microsemi,“ stated James J Peterson, President and CEO, Microsemi.
“Actel will bring the most widely-used mixed-signal, radiation
tolerant FPGA products in the aerospace and defense markets today,
and the company's products will allow Microsemi to extend its
growing system-level capabilities. As Microsemi continues to move up
the value chain in offering its customers system solutions that are
better, faster, and more-cost effective than they can build
themselves, Actel's highly- integrated solutions will be an
integral component in enabling this growth.” “The proposed
acquisition of Actel by Microsemi will create a powerful
combination,” said John C East, President and CEO, Actel. “I can
think of no company more complementary and better equipped to take
Actel's solutions to new heights,” he said.