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Skyworks agrees to buy PMC-Sierra for USD 2 billion
2015-10-06 09:17:00| Telecompaper Headlines
(Telecompaper) Semiconductor company Skyworks Solutions has announced a definitive agreement to acquire semiconductor and software company PMC-Sierrra for USD 10.50 per share in an all-cash transaction valued at approximately USD 2 billion. The price represents a 37 premium on PMC's closing share price on 5 October. The operation will be funded with cash on hand and new debt financing. This acquisition solidifies Skyworks' position as a highly diversified analogue, RF and mixed signal semiconductor provider by significantly expanding its product portfolio, customer base and end market applications. The acquisition is expected to close in the first half of 2016, pending PMC shareholder approval, regulatory authorisation and customary closing conditions.
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Category:Telecommunications