Microsemi Corp. (NASDAQ: MSCC) said that its subsidiary PETT Acquisition Corp. has merged into Symmetricom, Inc. (NASDAQ: SYMM) completing Microsemi´s acquisition of Symmetricom.
At the effective time of the merger, most outstanding shares of Symmetricom were converted into the right to receive USD7.18 per share in cash, without interest and less any applicable withholding taxes, the same price that was paid in the tender offer. Symmetricom shares will cease to be traded on NASDAQ.
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.
Microsemi offers a comprehensive portfolio of semiconductor and system solutions for communications, defense and security, aerospace and industrial markets. Microsemi is headquartered in Aliso Viejo, Calif., and has approximately 3,000 employees globally. Learn more at www.microsemi.com.