Microsemi Corporation (Nasdaq: MSCC), a provider of semiconductor solutions differentiated by power, security, reliability and performance, and Knowles Corporation (NYSE: KN), jointly announced today that Microsemi has entered into a definitive agreement to acquire the high performance timing business of Vectron International, a Knowles company, for $130 million.

Vectron is a world leader in the design, manufacture and marketing of frequency control, sensor and hybrid solutions using the very latest techniques in both bulk acoustic wave (BAW) and surface acoustic wave (SAW)-based designs from DC to microwave frequencies. Products include crystals and crystal oscillators; frequency translators; clock and data recovery products; SAW filters; SAW oscillators; crystal filters; SAW and BAW based sensors and components used in telecommunications, data communications, frequency synthesizers, timing, navigation, military, aerospace, medical and instrumentation systems.

“Microsemi is focused on building the industry’s most comprehensive portfolio of high value timing solutions,” said James J. Peterson, Microsemi’s chairman and CEO. “Vectron’s highly complementary technology suite expands our product offering with differentiated technology and allows Microsemi to sell more to its tier one customers in the aerospace and defense, communications and industrial markets while improving upon the operating performance of the combined model as we execute on significant synergy opportunities.”

Microsemi expects the acquisition to be immediately accretive once closed.  The transaction is subject to customary closing conditions and is currently expected to close in Microsemi’s fiscal first quarter ending December 2017.

As of this date, Microsemi remains comfortable with its July 28, 2017 non-GAAP guidance for its fourth fiscal quarter of 2017 ended Oct. 1, 2017. Microsemi currently intends to announce its fourth fiscal quarter results on Nov. 9, 2017.