Microsemi Corp. (Nasdaq: MSCC) is buying Vitesse Semiconductor Corp. (Nasdaq: VTSS) for $389 million.

Vitesse, headquartered in Camarillo, California, designs semiconductors and other types of technology embedded within electronics or software used in the mobile, cloud and industrial markets. The purchase price works out to $5.28 per share. Vitesse's stock closed at $3.89 on March 17, before the deal was announced.

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