Communications chip supplier Mindspeed said Tuesday afternoon that it will sell most of its business to rival M/A-COM Technology Solutions Holdings for $272 million in cash while talking to a potential buyer for its wireless operations "in the coming weeks."
M/A-COM Technology Solutions Inc. will offer $5.05 in cash for Mindspeed Technologies Inc. (Nasdaq: MSPD)'s outstanding shares for its analog busineess and other operations. The companies expect the deal to close by the end of the year.
Mindspeed also says it is "advanced discussions" with a strategic acquirer for the wireless side of its business. That deal could come down within weeks, according to the company.
Amongst its wireless assets is the Picochip team. [Ed note: Or those that stuck around.] Picochip was a well-regarded small cell chip startup from the UK that Mindspeed bought in 2012 for $51.8 million. (See Mindspeed Snaps Up Picochip for $51.8M.)
There's no word yet on what Mindspeed's standalone wireless assets might be valued at.
— Dan Jones, Mobile Editor, Light Reading