IRVINE, Calif., Sep 15, 2010 (GlobeNewswire via COMTEX News Network) -- Microsemi Corporation (Nasdaq:MSCC), a leading manufacturer of high performance analog mixed-signal integrated circuits, high reliability semiconductors, and RF subsystems, today announced that it has acquired privately held Arxan Defense Systems, Inc.
Arxan Defense Systems, Inc. is a leading provider of anti-tamper solutions, providing full-service support to defense clients in securing systems against tampering, piracy and reverse engineering. Arxan's software and firmware platform, EnforcIT(TM), is designed for defense customers building major weapons systems that require protection of critical technologies against nation-state threats.
There is a strong need for reliable, efficient solutions for software and hardware protection and information assurance to meet mandatory requirements as specified by U.S. Department of Defense (DoD) directives. As each program and product is unique, with its own specific security, platform, performance, and business requirements, it is generally unfeasible to fulfill these requirements using a single technology.
"The combination of Microsemi and Arxan Defense Systems creates a broad and complementary product portfolio for the Defense market," said James J. Peterson, President and Chief Executive Officer of Microsemi. "Arxan's software and firmware solutions fulfill an important role in protecting DoD-critical technologies while they serve to enable additional opportunities in non-U.S. military markets."
"This partnership between Microsemi and Arxan Defense Systems further leverages Arxan's EnforcIT (TM) enablement platform into additional security layers and devices to complement our software and firmware protection capabilities," said Rich Earley, Chief Executive Officer of Arxan Defense Systems. "We are proud to join forces with such a strong and growing supplier of Defense products, systems, and capabilities."
Microsemi intends to discuss this acquisition during its fiscal year-end earnings conference call to be scheduled in November.
About Microsemi Corporation
Microsemi Corporation, with corporate headquarters in Irvine, California, is a leading designer, manufacturer and marketer of high performance analog and mixed-signal integrated circuits, high reliability semiconductors and RF subsystems. The company's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals.
Microsemi's products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance and reliability, battery optimization, reducing size or protecting circuits. The principal markets the company serves include implanted medical, defense/aerospace and satellite, notebook computers, monitors and LCD TVs, automotive and mobile connectivity applications. More information may be obtained by contacting the company directly or by visiting its website at http://www.microsemi.com.
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About Arxan Defense Systems, Inc.
Arxan Defense Systems, Inc. is an anti-tamper technology company providing products and support to DoD and military clients across the entire anti-tamper lifecycle. It empowers program managers to successfully navigate the verification and validation process through a combination of people, products and processes. Arxan Defense Systems takes a 'hooks and handles' approach to create strong defense-in-depth solutions for critical technology and critical program information. With its premier EnforcIT(TM) product suite, Arxan Defense Systems enables engineers to build custom software and firmware protection schemes, and through extensible platforms, it enables developers to leverage best of breed technology in a fast, efficient, and highly secure manner.
This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The reader is cautioned not to put undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties and other factors, many of which are outside the control of Microsemi and Arxan Defense Systems. The forward-looking statements in this release address a variety of subjects including the potential benefits of the acquisition of Arxan Defense Systems. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the risk that Arxan Defense Systems' business will not be successfully integrated with Microsemi's business and product suite; costs associated with the acquisition; failure to achieve expected gross margins and operational and other cost synergies; negative or worsening worldwide economic conditions or market instability; unfavorable conditions in end markets; potential non-realization of expected orders or non-realization of backlog; difficulties in closing or disposing of operations or assets or transferring work from one plant to another; increased competition and technological changes in the industries in which Microsemi and Arxan Defense Systems compete; and other events that could negatively impact the benefits of the acquisition, including industry, economic or political conditions outside of our control. The forward-looking statements included in this release speak only as of the date hereof, and Microsemi does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
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SOURCE: Microsemi Corporation
CONTACT: Microsemi Corporation Financial Contact: John W. Hohener, Executive Vice President and CFO Investors: Robert C. Adams, Vice President of Corporate Development (949) 221-7100
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