Microsemi Completes Acquisitions of CDI and NES

August 28, 2001 by Jeff Shepard

Microsemi Corp. (Irvine, CA) announced raising the median of its revenue guidance, in part as a result of the previously reported closings of the acquisitions of the assets of Compensated Devices Inc. (CDI) and New England Semiconductor Corp., (NES) and the deferred ex-dividend date of August 29, 2001.

The acquisitions are believed to strengthen Microsemi's position in the growing military, space and medical markets, but are not the sole reason for the revised expectations. The acquisitions were completed for $11.5 million and $9.1 million for CDI and NES, respectively, in cash and notes and assumption of debt and other obligations.