Shareholders of Israeli chipmaker PowerDsine Ltd. have approved a $245 million buyout by Irvine-based Microsemi Corp.
A Tel Aviv District Court still must approve the deal.
Microsemi expects to close the buy in the first quarter. The company previously said the purchase would “slightly” dilute earnings per share for a year and then add to earnings after that.
PowerDsine makes chips to send power over computer networking cables, cutting the need for separate energy supplies for routers, switches and other devices. The chips are seen as a way to cut costs of installing a network.
Based near Tel Aviv, PowerDsine also has operations in San Jose as well as Melville, N.Y.
PowerDsine shareholders are set to get $8.25 per share in cash, plus about one-fifteenth of a Microsemi share, for each PowerDsine share they own.
