Friday, September 4, 2009

Semicoa Deal Price: $16M

Costa Mesa-based Semicoa, which was spun back out of semiconductor firm Microsemi on August 24th, has raised $16M in funding associated with the private equity deal. According to a recent regulatory filing by the firm, it received $16.0M in conjunction with the deal to relaunch the firm. The funding came from Vance Street Capital. Microsemi was forced to divest Semicoa as part of a settlement with the U.S. Department of Justice, after Microsemi purchase the firm in July of 2008. Microsemi paid $25M in cash for Semicoa at that time, but soon got unwelcome attention of the DOJ, which complained that Microsemi was using the acquisition to drive up prices for "critical" devices used by the U.S. military and space programs.

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