Today Microchip Technology announced the signing of a definitive agreement to acquire Microsemi.  The transaction is subject to the approval of shareholders of Microsemi, regulatory approvals and customary closing conditions.  We expect the transaction to close in the second calendar quarter of 2018. More information about the acquisition is available on our Investor Relations website in the form of a presentation we made to investors today. 

This acquisition adds Microsemi’s strong portfolio of Specialized Ethernet, Storage and Optical Networking Microcontrollers, FPGA, Wireless, Timing, Analog and Mixed-Signal products to Microchip. Microsemi also increases Microchip’s exposure to the Datacenter, Communications Infrastructure, Defense and Aerospace end markets. These end markets have typically been smaller sections of Microchip’s business which is dominated by Industrial, Automotive and Consumer end markets. We believe the complementary product lines, and complementary end market exposure, of Microchip and Microsemi will offer our combined customers a broader range of innovative solutions to serve their needs. We are excited by the business possibilities created by the Microsemi acquisition, and look forward to welcoming the Microsemi team to the Microchip family!