Microsemi Corporation, a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, announced that PETT Acquisition Corp. a wholly-owned subsidiary of Microsemi, successfully merged into Symmetricom, Inc.
Symmetricom is the world's leading source of highly precise timekeeping technologies and solutions that enable next generation data, voice, mobile and video networks and services. It provides timekeeping in GPS satellites, national time references, and national power grids as well as in critical military and civilian networks.
The acquisition aligns with Microsemi's strategy to gain share by providing 'total system' solutions to high value, high barrier to entry markets where it holds leadership positions.
In addition, Microsemi gains a strong footprint in IT infrastructure and metrology applications and has the opportunity to capitalize on growth opportunities for Symmetricom's chip scale atomic clock (CSAC) technology, amongst other leading-edge products.
As a result of the acquisition, Microsemi now offers the industry's largest and most complete timing product offering.
From the core of the network to the edge, Microsemi now delivers the source, synchronization and distribution of end-to-end timing solutions. The transaction also strengthens Microsemi's ability to address a broader range of opportunities in aerospace, communications, defense and industrial markets.