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$MSCC said its products, including its field programmable gate arrays (FPGAs), are not affected by the recently identified security flaws associated with the use of x86 and ARM and a number of other processors. Security researchers revealed major computer chip vulnerabilities, called Spectre and Meltdown, in chips were affecting devices globally.
Following the resignation of $MU's Storage Business Unit VP Anand Jayapalan, who got accused by SEC on security fraud at his previous company SanDisk, Micron appointed Derek Dicker as VP and GM of Storage Business Unit. Previously, Dicker served as VP and Business Unit Manager of performance storage at $MSCC.
$KN completed the sale of its timing device business, part of the Precision Devices segment, to $MSCC for $130MM in cash. $KN expects to use a portion of the net proceeds to reduce outstanding borrowings under its revolving credit facility. $KN expects to reclassify the results of the timing device business to discontinued operations in 4Q17.
$MSCC announced its new Mi-V ecosystem to increase adoption of its RISC-V soft central processing unit (CPU) product family. RISC-V, an ISA which is a standard open architecture offers numerous benefits, including portability as well as enabling the open source community to test and improve cores at a faster pace than closed ISAs.
$MSCC, a provider of semiconductor solutions, has tied up with $MLNX and Celestica to develop a unique reference architecture for NVM express over Fabrics (NVMe-oF) applications as part of its Accelerate Ecosystem Program. The NVMe market will be more than $57Bil by 2020 and NVMe-oF adapter shipments may touch 740,000 units by 2020.
Semiconductor technology provider $MSCC has released SoftConsole 5.1, the first ever Windows-hosted Eclipse integrated development environment for designs utilizing RISC-V open instruction set architectures. SoftConsole, a free software development environment, will be showcased at the Design Automation Conference.
$MSCC announced early results for its tender offer to purchase for cash up to an Aggregate Purchase Price of $200MM of its 9.125% senior notes due 2023. As on May 24, 2017, $MSCC accepted for purchase the maximum aggregate purchase price of $200MM of the notes that have been validly tendered and not validly withdrawn.
$MSCC, the maker of semiconductors for power management, reported a jump in 4Q16 earnings driven by higher sales. Net income rose to $48.9MM or $0.42 per share from $25.3MM or $0.26 per share last year. Net sales climbed 36.9% to $450.1MM. Adjusted EPS increased to $0.91 from $0.73.
$MSCC said it has amended the credit agreement to provide for new pricing terms for the remaining term B loans outstanding in an aggregate principal amount of $739.7MM. Term B loans currently bear interest at LIBOR plus 300 basis points with a 75 basis point floor, a decrease of about 29% or 150 basis points.
$MSCC said it has refinanced its term loans which has effectively lowered the current blended interest rate under the credit agreement by about 25% or 107 basis points. The company has reduced the principal balance on its term B loans by $364.3MM by syndicating corresponding amount of term A loans.
Semiconductor company $MSCC said it has collaborated with Veracity Security Intelligence to develop secure networking solutions for industrial Ethernet deployments. This alliance enables full industrial network security with a simple software installation in managed industrial switches. The new security solutions will be available in 2H16.
Semiconductor solutions provider $MSCC said it has launched the new Ocelot product family, a low power Ethernet switch family optimized for communications networking in the industrial Internet of Things (IIoT) market. The new devices simplify IIoT network migration to an Ethernet backbone with flexible interfaces and TCAM based classifications.
Semiconductor solutions provider $MSCC said it has completed the sale of a non-strategic component of a board level systems and packaging business to Mercury Systems, Inc. for $300MM in cash. The cash generated will be used to pay down outstanding debt and allow the company to reduce its leverage ratio ahead of original plan.
$MSCC announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended occurred on April 20, in connection with the previously announced sale by Microsemi of a non-strategic component of a board level systems and packaging business to $MRCY for $300MM in cash.