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Microsemi Corporation and Mercury Systems, Inc. Announce Scheduled Closing for Microsemi's Sale of its Embedded Security, RF and Microwave, and Custom Microelectronics Businesses to MercuryALISO VIEJO, Calif. and CHELMSFORD, Mass., April 28, 2016 /PRNewswire/ -- Microsemi Corporation (Nasdaq: MSCC) ("Microsemi") and Mercury Systems, Inc. (Nasdaq: MRCY) ("Mercury") today provided an update on the closing of the previously announced sale by Microsemi of its embedded security, RF and microwave, and custom microelectronics businesses to Mercury, for $300 million in cash (subject to a customary purchase price adjustment). The parties confirmed that the marketing period for Mercury's debt financing has concluded, all third party closing conditions have been satisfied and the parties expect to close the transaction on May 2, 2016, subject to certain customary closing deliverables. About Microsemi Microsemi and the Microsemi logo are registered trademarks or service marks of Microsemi Corporation and/or its affiliates. Third-party trademarks and service marks mentioned herein are the property of their respective owners. Mercury Systems – Innovation That Matters™ Forward-Looking Safe Harbor Statement This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the transaction described herein. You can identify these statements by the use of the words "may," "will," "could," "should," "would," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," "likely," "forecast," "probable," "potential," and similar expressions. The forward-looking statements in this release address a variety of subjects including, for example, the expected date of closing of the transaction and any other statements of belief or about Microsemi's or Mercury's plans, beliefs or expectations. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: costs associated with the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement; the risk that the transaction will not close within the anticipated time period; the effects of local and national economic, credit and capital market conditions on the economy in general; and other risks and uncertainties discussed in Microsemi's and Mercury's respective filings with the U.S. Securities and Exchange Commission, including Microsemi's Annual Report on Form 10-K for the year ended September 27, 2015, Mercury's Annual Report on Form 10-K for the fiscal year ended June 30, 2015, and all subsequent Form 10-Q reports filed by Microsemi or Mercury with the U.S. Securities and Exchange Commission. Microsemi and Mercury caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Neither Microsemi nor Mercury undertakes any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made. Logo - http://photos.prnewswire.com/prnh/20110909/MM66070LOGO To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/microsemi-corporation-and-mercury-systems-inc-announce-scheduled-closing-for-microsemis-sale-of-its-embedded-security-rf-and-microwave-and-custom-microelectronics-businesses-to-mercury-300259057.html SOURCE Microsemi Corporation |