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AMCC - Applied Micro Circuits News Story

$8.45 0.1  0.6%

Last Trade - 26/01/17

Sector
Technology
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £127.2m
Position in Universe th / 6408

BRIEF-MACOM announces definitive agreement to acquire Applied Micro

Mon 21st November, 2016 12:15pm
Nov 21 (Reuters) - MACOM Technology Solutions Holdings Inc 
 MTSI.O  -  
    * MACOM announces definitive agreement to acquire Applied 
Micro 
    * Deal for $8.36 per share 
    * Transaction valued at approximately $770 million 
    * MACOM intends to divest non-strategic compute business 
within first 100 days of closing 
    * Transaction valued at approximately $770 million 
    * MACOM to benefit from over $600 million of tax net 
operating loss carry forwards 
    * MACOM will assume certain equity awards held by Applied 
Micro employees 
    * MACOM expects to pay cash portion of acquisition price 
from cash on hand 
    * To commence tender offer to purchase each outstanding 
common share of Applied Micro for about $8.36 per share 
    * MACOM intends to divest Applied Micro's compute business 
within 100 days from closing transaction 
    * MACOM will continue to support compute customers and 
partners during the transition 
    * Deal price consists of $3.25 in cash and 0.1089 MACOM 
shares per share of Applied Micro 
    * Excluding compute business,sees deal to be accretive to 
non-gaap gross margin, non-gaap operating margin, non-gaap EPS 
in fy 2017 
    * Applied Micro stockholders are expected to own 
approximately 15% of combined company on a pro forma basis 
    * MACOM announces definitive agreement to acquire Applied 
Micro 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nBwb6wCPQa 
Further company coverage:  MTSI.O  
 
 ((Bangalore.newsroom@thomsonreuters.com))
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