Leading
semiconductor solutions supplier Mindspeed Technologies announced it has signed
a definitive agreement to sell its wireless infrastructure business unit assets
to Intel Corporation. The asset sale was contemplated by the agreement and plan
of merger with M/A-COM Technology Solutions Holdings, Inc., which was announced
on Nov. 5.
The
transaction is expected to close in February 2014, subject to satisfaction or
waiver of certain closing conditions. Acting as financial advisor to
Mindspeed’s board of directors was Morgan Stanley & Co. LLC. Additional
details about the transaction are available in the Current Report on Form 8-K
that Mindspeed filed with the SEC on Dec. 16.
A
leader in providing network infrastructure semiconductor solutions to the
communications industry, Mindspeed offers low-power system-on-chip (SoC)
products that are helping drive video, voice, and data applications in global
fiber-optic networks and enable advanced processing for 3G and long-term
evolution (LTE) mobile networks. Mindspeed’s high-performance analog products
are utilized in various optical, enterprise, industrial, and video transport
systems. The company’s products are sold to original equipment manufacturers
(OEMs) throughout the world.
Mindspeed
announced on Nov. 5, 2013 that it had entered into a definitive agreement to be
acquired by M/A-COM Technology Solutions Holdings, Inc., which is a leading
supplier of high-performance RF, microwave, and millimeter wave products.
For
more information, visit www.mindspeed.com
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