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PMC-SIERRA, INC.
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On October 7-9, PMC-Sierra, Inc. distributed the following e-mail communication to various clients.
Subject: Skyworks to Acquire PMC-Sierra for $2 Billion in Cash
Guys- If you hadn’t seen this on the wire on Tuesday, we announced that the company will be sold to Skyworks, a leader in the wireless networking space. The existing mobile, wireless silicon technology overlap between the two companies makes sense. With ~70% of PMC revenue in the storage market, storage and I/O is the big question. I’ve listened to both PMC internal communications as well as a conference call with the Skyworks CEO. In both cases, the publicly stated intention is to continue with our server storage product line (aka PMC Adaptec) to allow Skyworks to penetrate and grow within the Storage/Cloud/Hyperscale datacenter space, which is where PMC is focused.
Until the expected close in mid-2016, it’s business as usual.
http://investor.pmcs.com/phoenix.zhtml?c=74533&p=irol-newsArticle_Print&ID=2094294