Microsemi buys Symmetricon
Microsemi has bought Symmetricom for $230 million net of Symmetricon’s cash.
Symmetricon specialises in precision time-keeping and frequency technologies. It provides timekeeping in GPS satellites, national time references, and national power grids as well as in critical military and civilian networks.
“The acquisition of Symmetricom will create the largest and most complete timing portfolio in the industry,” claims Microsemi CEO stated James Peterson.
“The acquisition of Symmetricom by Microsemi will create a powerful combination, with the scale to accelerate the adoption of the company’s innovative new chip scale atomic clock (CSAC) technology into broader markets,” says Elizabeth Fetter, Symmetricom’s CEO (pictured).
Microsemi expects significant synergies from the transaction.