Microsemi Settles DOJ Suit

IRVINE, Calif. (AP) — Chip maker Microsemi Corp. said Thursday it has sold the assets of Semicoa Inc. as part of a settlement with the Department of Justice.

In a statement, the Justice Department said "without this divestiture, there would be little or no competition in the development, manufacture and sale of certain semiconductor devices used in military and space programs essential to the security of the United States."

Microsemi said the transaction will not have a material effect on the company's current quarterly results.

The DOJ's antitrust division has filed a proposed settlement in U.S. District Court for the Eastern District of California. If approved, the settlement would resolve the lawsuit and address its competitive concerns, the DOJ said.

Microsemi's shares closed up 2 cents at $13.06.