Microsemi to Sell General Microcircuits

Times Staff and Wire Reports

Microsemi Corp. said Tuesday that it is selling General Microcircuits Inc., a circuit board assembler, for $5 million in cash and a $2-million note due over five years.

Microsemi said it is shedding the North Carolina company to focus on its core business of providing power semiconductors.

A group of investors, including some General Microcircuits executives, is buying General Microcircuits. The Mooresville, N.C., circuit board assembler has annual revenue of about $13 million, Microsemi said.