PMC-Sierra, Inc., a leading innovator of energy-saving films and glass products for automotive and architectural markets, completed its previously announced sale to Microsemi Corporation (Nasdaq: MSCC) ("Microsemi"), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance. Under the terms of the agreement, PMC-Sierra's shareholders have received $9.22 in cash and 0.0771 of a share of Microsemi common stock for each share of PMC common stock through an exchange offer. Needham & Company acted as a financial advisor to PMC-Sierra, Inc.
PMC (NASDAQ: PMCS) is the semiconductor and software solutions innovator transforming networks that connect, move and store big data. Building on a track record of technology leadership, PMC is driving innovation across storage, optical and mobile networks. PMC's highly integrated solutions increase performance and enable next-generation services to accelerate the network transformation.