Irvine-based semiconductor firm Microsemi Corp. plans to buy AML Communications for $28 million.
Microsemi's $2.50 per share offer supplanted a previous $2.15 per share deal the Camarillo-based firm had entered with Anaren. AML's board of directors earlier this month deemed Microsemi's offer "superior."
AML makes microwave amplifiers and subsystems for use in defense electronics, and its customers include Raytheon, Lockheed Martin, Northrop Grumman, L-3 Communications and BAE. Its radiofrequency microwave technology is "extremely complementary" to Microsemi's product lineup, said AML Chairman, President and CEO Jacob Inbar.
Microsemi develops analog and radiofrequency devices, mixed-signal integrated circuits and other technologies used in the defense, security and aerospace industries, among others.
"The acquisition of AML Communications will add scale and complementary technology to Microsemi's fast-growing RF (radiofrequency) component and subsystems product offering, enabling us to deliver ever more advanced RF solutions to our customers," said Microsemi President and CEO James Peterson.
The deal is expected to close at the end of June.
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