M/A-COM Technology plans to draw on revolver to help fund acquisition

By Tali David

Minneapolis, Nov. 5 - M/A-COM Technology Solutions Holdings, Inc. plans to use its existing undrawn revolving credit facility to help fund the acquisition of Mindspeed Technologies, Inc., according to a press release.

The company will also use cash on hand to fund the transaction, which is valued at about $272 million and is expected to close by the end of 2013.

M/A-COM is a Lowell, Mass.-based supplier of high performance RF, microwave and millimeter wave products that enable next-generation internet and modern battlefield applications.

Mindspeed is a Newport Beach, Calif., maker of networking chips.

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