Irvine chipmaker Microsemi Corp. is paying $2 million for a Massachusetts maker of electronics for military and defense contractors.
The company is buying Danvers, Mass.-based TSI Microelectronics Corp., which has yearly sales of $1.2 million and is profitable, according to Microsemi.
The deal includes $600,000 in cash. Microsemi said it expects TSI to immediately add to its profits.
TSI makes custom and replacement electronics for older military products. They include circuit boards and other electronics originally made by Fairchild Semiconductor International Inc. and National Semiconductor Corp.
Microsemi said it plans to standardize TSI’s custom products and develop more profitable chips from the acquisition.
The deal is the second small buy for Microsemi in recent weeks. Last month, it bought the assets of Westford, Mass.-based Microwave Device Technology Corp., a microwave chipmaker, for $7.8 million.
A year ago, Microsemi paid $245 million for Israel’s PowerDsine Ltd., a maker of chips that send power for computer gear over networking cables.
