IRVINE, Calif., 3 Nov. 2005. Microsemi Corp. in Irvine, Calif., is set to acquire Advanced Power Technology Inc. (APT) in Bend, Ore. Microsemi leaders say the acquisition will expand their company's offerings in analog mixed signal offering for RF applications, as well as high reliability offering in the defense/aerospace and medical marketplace.
Microsemi specializes in high-performance analog devices and high-reliability semiconductors. APT makes RF and switching power semiconductors.
"APT is a recognized leader in its RF product offering for high frequency products for the analog market as well as being a technology leader with its high power switching products," says James J. Peterson, Microsemi's President and chief executive officer.
"Following several years of consolidation efforts, Microsemi is excited to move forward in this next stage of our life cycle. APT is the first step toward a focus on growing organically and through acquisition. We believe that there are significant efficiency gains to be realized on the operational level as well as the business opportunity level."
Under the terms of the agreement, each APT shareholder will receive $2.00 per share in cash and 0.435 shares of Microsemi common stock for each share of APT common stock. Based on closing prices as of November 2, 2005, the total consideration values APT at $12.20 per share, a 29 percent premium to APT's closing stock price today.
For more information contact Microsemi online at www.microsemi.com.
