Date: 30/04/2009

Microsemi buys defense electronics business of Endwave

Amid the poor performance of various market segments of electronics engineering, the defense electronics looks to be the safe domain during this recession period. Micosemi has gained an upper hand in defense electronics market by deciding to acquire Endwave's defense electronics and security (D&S) business. Under the terms of the agreement, Microsemi is acquiring the D&S assets for a total equity value of $28 million in cash plus the assumption of specified liabilities.

With its range of high-reliability semiconductor devices, Microsemi is adding Endwave's high-frequency product portfolio to offer broad range of RF product covering the technology spectrum up to 100 GHz.
The common customers include Boeing, Cobham, L3, Lockheed Martin, Northrop Grumman, and Raytheon. Microsemi says, This acquisition will expand opportunities for Microsemi in next-generation, high-growth defense electronics applications such as theater-wide video and voice communications, advanced radar systems, remote sensing and broadband transmission systems.
Homeland Security is another area where the combined group will provide better technologies for radar fencing, standoff threat detection systems and advanced personnel screening portals.

"The combination of Microsemi's and Endwave's D&S product portfolios creates a strengthened high-reliability offering for the RF Defense & Security market," said James J. Peterson, President and Chief Executive Officer of Microsemi Corporation. "Endwave's industry-leading RF technology and its focus on emerging high-growth defense electronics and security applications make it an excellent complement to Microsemi's own product suite. We are delighted to add this incredible suite of technology and outstanding design engineers to our growing family of High-Reliability RF products."

"Microsemi's track record of performance, market leadership and a blue-chip customer base enable this industry-class D&S business to fulfill its vision," said Ed Keible, Endwave's CEO and President. "We have worked hard to build our D&S business, and we are extremely pleased that an industry leader like Microsemi can take it to the next level."