Microsemi Corp. announced that is has sold the assets of Semicoa to a third party. In connection with this sale, the United States Department of Justice (DOJ) has settled its civil action against Microsemi. Microsemi’s settlement with the Department of Justice is subject to final approval under procedures set out by federal law.
Microsemi states that the results of this transaction will not have a material impact on its current quarterly results, and the company is currently making no changes to its revenue or earnings guidance for the September quarter. Microsemi will provide additional details of the sale when it releases its September quarter and year-end results.
The DOJ suit had claimed that as a result of the transaction, Microsemi eliminated or reduced competition in the development, manufacture, and sales of certain semiconductors used in military and space programs--essential to the security of the United States – creating a monopoly on those parts and raising prices.
