Microsemi Tops Offer for Defense Electronics MakerWednesday, April 6, 2011
Irvine-based chipmaker Microsemi Corp. has upped the ante for a Camarillo-based defense electronics maker.
Microsemi is offering $28.3 million to buy AML Communications Inc., which makes microwave amplifiers for communications, unmanned aerial vehicles and other products for companies such as Raytheon Co. and Lockheed Martin Corp.
The offer from Microsemi tops one for $24.3 million by East Syracuse, N.Y.-based Anaren Inc. that was made in February and accepted by AML.
AML’s board now has deemed Microsemi’s offer to be superior and has told Anaren it plans to go recommend the higher offer to shareholders.
There was no response from Anaren early Wednesday.
Microsemi makes chips for military, aerospace, industrial and consumer uses.
The company typically buys several companies a year as part of rollup strategy in what are known as high-reliability chips used in devices where failure is costly.
Last year, the company made it biggest deal year with a $430 million buy of Mountain View’s Actel Corp.