Microsemi To Acquire Calif.-based Centellax; To Buy Back Upto $100 Mln Shares

(RTTNews) - Semiconductor company Microsemi Corp. (MSCC) Tuesday said it will buy Centellax, a Calif.-based supplier of semiconductor products designed for high-speed communications markets. The company didn't disclose the terms of the deal and said the acquisition is not expected to materially affect it's revenues or expenses. In addition, Microsemi also announced it will buy back up to $100 million of it's common stock. The buyback will be funded from available working capital.

Commenting on the acquisition, James Peterson, Microsemi's chairman and CEO said: "We welcome this talented Centellax team to Microsemi and we look forward to incorporating its leading-edge designs into our ever expanding communications product portfolio, ensuring our customers continue to rely upon us as their total solutions provider."

Further, Microsemi backed its revenue guidance for its fourth quarter of fiscal 2014.