Davis Polk is advising Qatalyst Partners LP as financial adviser to PMC-Sierra, Inc. in connection with its approximately $2.5 billion acquisition by Microsemi Corporation. The merger agreement was entered into in connection with the termination of PMC’s merger agreement with Skyworks Solutions, Inc. The acquisition by Microsemi will be effected through an exchange offer by a wholly owned subsidiary of Microsemi to acquire all of the outstanding shares of PMC common stock. The acquisition is expected to close in the first quarter of 2016, and is subject to the tender of at least a majority of the outstanding shares of PMC common stock, regulatory approvals and other customary closing conditions.

PMC is a semiconductor and software solutions leader in storage, optical and mobile networks. Microsemi offers a comprehensive portfolio of semiconductor and system solutions for communications, defense & security, aerospace and industrial markets.

The Davis Polk corporate team includes partner William M. Kelly and associates Emily Roberts and Rohit M. Malhotra. All members of the Davis Polk team are based in the Northern California office.

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