Microsemi to Buy Linfinity for $24 Million

Microsemi Corp., the Santa Ana-based semiconductor firm, said Thursday that it agreed to acquire Linfinity Microelectronics Inc. of Garden Grove from Symmetricom Corp. in a $24.13-million cash deal.

Symmetricom said it expected to report a net after-tax loss of up to $4 million, or 26 cents a share, from the deal, which is expected to close by the end of March. The loss comes because Symmetricom, on its own financial records, had valued Linfinity for more than Microsemi is spending on the acquisition, Microsemi said.

Microsemi said the deal helps secure a strategic partnership with Linfinity, which makes integrated circuits that manage the power used by consumer electronics. The firm has about 220 employees. No layoffs are expected because of the merger, Microsemi said Thursday.

Microsemi stock fell 44 cents Thursday, closing at $11.06 a share. Symmetricom stock was down 6 cents to $7.88.