M/A-Com Technology Solutions Holdings Inc. (Nasdaq: MTSI) is buying Mindspeed Technologies Inc. (Nasdaq: MSPD) for $272 million.
Mindspeed develops semiconductor products for communications infrastructure uses. The company is in talks to sell its wireless business, which it intends to divest before the sale with M/A-Com is finalized. The company announced in April that it was pursuing strategic alternatives.
The purchase price works out to $5.05 per share in cash.
Lowell, Mass.-based M/A-Com provides microwave and millimeter wave products used for the Internet. The acquisition should allow the company to grow into the commercial communications market.