Vitesse to Buy Orologic

Camarillo-based Vitesse Semiconductor Corp., the No. 1 maker of non-silicon telecommunications chips, agreed to buy chip maker Orologic Inc. for $450 million in stock, adding chips for managing Internet traffic. Orologic, based in Morrisville, N.C., designs chips that control data between high-speed fiber-optic cables and slower computer networks. Vitesse shares rose $4.88 to close at $95.94 on Nasdaq.