Macom Technology to Buy Applied Micro Circuits for $770 Million

Macom Technology will buy Applied Micro for $770 million, a 15% premium over Friday's closing price.
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Macom Technology Solutions (MTSI) - Get Report says it will buy fellow semiconductor manufacturer Applied Micro Circuits (AMCC) for $770 million. Macom's offer of $8.36 a share represents a 15% premium over Applied Micro's closing price on Friday. Macom is looking to expand into the data center connectivity market, but the company says that it will sell Applied Micro's computing chip business after the acquisition is completed.