Showing posts with label Symmetricom. Show all posts
Showing posts with label Symmetricom. Show all posts

Monday, October 21, 2013

Microsemi to Acquire Symmetricom for its Precise Timing Solutions

Microsemi agreed to acquire Symmetricom for approximately $230 million, or $7.18 per share, representing a premium of 49 percent based on the average closing price of Symmetricom's shares of common stock during the 90 trading days ended Oct. 18, 2013.

Symmetricom specializes in highly precise timekeeping technologies for data, voice, mobile and video networks and services. It provides timekeeping in GPS satellites, national time references, and national power grids as well as in critical military and civilian networks. The company is based in San Jose, California.

Microsemi said expects significant synergies from this immediately accretive transaction. Based on current assumptions, Microsemi expects the acquisition to be $0.22 to $0.25 accretive in its first full calendar year ending December 2014.

Microsemi's current product lines include high-performance and radiation-hardened analog mixed-signal integrated circuits, FPGAs, SoCs and ASICs; power management products; timing and voice processing devices; RF solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet ICs and midspans; as well as custom design capabilities and services. The company is based in Aliso Viejo, California.

"The acquisition of Symmetricom will create the largest and most complete timing portfolio in the industry today," stated James J. Peterson, Microsemi president and chief executive officer. "From source to synchronization to distribution, Microsemi will offer an end to end timing solution for an expanded range of markets, driving increased dollar content opportunity and revenue growth."
"The acquisition of Symmetricom by Microsemi will create a powerful combination," said Elizabeth Fetter, Symmetricom's chief executive officer. "I believe Microsemi is the ideal company to leverage Symmetricom's technology and capabilities further into the communications market along with the scale to accelerate the adoption of the company's innovative new chip scale atomic clock (CSAC) technology into broader markets."

Thursday, June 20, 2013

Symmetricom Announces Restructuring

Symmetricom announced a strategic restructuring plan and updated financial guidance for its fiscal fourth quarter ending June 30, 2013.

The restructuring plan includes the realignment and consolidation of several organizations, elimination of certain activities, and a workforce reduction of approximately 12% of total headcount.

Symmetricom expects to incur total charges in the range of $7.5 to $8.0 million in connection with the plan, of which approximately $6.8 million will be in cash. Upon completion, the company expects these actions to generate annual cost savings of approximately $13 million.

"The steps we announced today are the result of a recent comprehensive business review and reflect the driving of efficiencies across our operations, while continuing to meet the needs of our customers." said Elizabeth Fetter, chief executive officer of Symmetricom.  "The overall business environment remains challenging as we face a number of headwinds which we expect will continue into fiscal 2014. These actions better position our business and demonstrate our commitment to delivering solid profitability in the current operating environment while continuing to invest in our key growth initiatives."

  • In April, Symmetricom named Elizabeth A. Fetter as its new CEO, replacing David G. Cote, who left to pursue other interests.  The company also announced that Robert T. Clarkson has stepped down as chairman of the board of directors and that James Chiddix has been elected to succeed Mr. Clarkson as chairman.  Fetter has previously served as President and CEO of several private technology start-up companies, including QRS Corporation.  She served as President, Chief Executive Officer and a director of NorthPoint Communications, a network services company, from 1999 to 2001.  Ms. Fetter previously was Vice President and General Manager of the Consumer Services Group at U.S. West and held various senior executive positions at Pacific Bell.  

Monday, May 13, 2013

SK telesys Joins Symmetricom's SyncWorld Ecosystem

SK telesys, the wireless system manufacturer of SK Group Korea, has integrated Symmetricom' SoftClocks with its small cell solutions.

SK telesys produces and supplies repeaters that act as the core devices for telecom providers' CDMA/WCDMA services. The company's two small cell products, the SLN-FN080 and SLN-FD080, have integrated Symmetricom's SCr100 Small Cell SoftClock solution using network time protocol (NTP) signals.

SK telesys will join Symmetricom's SyncWorld Ecosystem Program in the Small Cells category.

"With the successful integration and induction as a Small Cells partner with Symmetricom, mobile operators can gain confidence that the various integrated components of our residential small cells solution will work at optimal performance," said Dr. IH Sohn, Director at SK telesys. "For telecom service providers, having Symmetricom's timing and synchronization element is critical, especially as they evolve to 4G/LTE networks."


Sunday, February 24, 2013

Symmetricom Positions Edge Master Clocks for Small Cells and LTE Ne

Symmetricom introduced a set of Edge Master Clocks for delivering precise time at the network edge, especially in 3G and 4G/LTE small cell deployments.

The TimeProvider 2700 and 2300 Edge Master Clocks are IEEE 1588 (PTP) synchronization solutions.

In addition to locating a grandmaster clock at or near the edge, the platforms can be used to overlay the network with advanced boundary clocks at specific locations. Support covers both LTE-TDD and LTE-A, which have stringent requirements for frequency and phase synchronization.

In frequency synchronized networks (LTE-FDD, as well as 2G/3G), Edge Master Clocks can be deployed to eliminate timing issues caused by the backhaul network and high packet delay (PDV) environments inherent in Carrier Ethernet networks.

Multi-sync capability ensures service continuity in the event of loss of one or more of the primary sync signals or the GNSS signal is compromised.

The solution is also optimized for deployment in small to large networks with license options supporting between 8 and 64 base stations and/or small cells, allowing for network scalability.

“Small cells synchronization is a multi-faceted challenge and requires an innovative approach,” said Manish Gupta, vice president of marketing and business development for Symmetricom.  The TimeProvider 2700 and 2300 Edge Master Clocks are specifically designed to meet the
scalability, performance, reliability and cost requirements for synchronizing small cells at the
edge of the mobile network.”

“Small cells are necessary to increase capacity and coverage required by data hungry customers who continue to consume data as a part of their mobile lifestyles,” said Dror Nemirovsky, Head of Packet Networks, Nokia Siemens Networks. “The Symmetricom Edge Master Clocks complement the investment our customers have made in the TimeProvider 5000 and enable Nokia Siemens Networks to serve operator requirements for increased network performance as they deploy LTE.”

Wednesday, January 23, 2013

Symmetricom Sales Drop 15% on Lower Wireline Spending

Citing lower U.S. government spending and lower communications service provider spending on wireline-related equipment, Symmetricom reported revenue of $49.2 million for its second quarter of fiscal 2013, down $9.1 million, or 15.6%, compared to the $58.3 million reported for the second quarter of fiscal 2012.  Symmetricom reported a net loss of $1.8 million, or $0.04 per share, for the second quarter of fiscal 2013, compared to net income of $2.4 million, or $0.06 per share, in the second quarter of fiscal 2012.

Symmetricom also announced 20 job cuts as a means of controlling its costs.  The company will also reduce the size of its facility in Santa Rosa, California.