SAN FRANCISCO—Mindspeed Technologies Inc. will cut an unspecified number of jobs as part of a restructuring in the wake of its acquisition of PicoChip Ltd. earlier this year, according to a regulatory filing made Wednesday (April 4).
Mindspeed (Newport Beach, Calif.) said in a filing with the U.S. Securities and Exchange Commission it expects the restructuring to be completed by the end of June. The company said it expects to incur charges of between $1.2 million and $1.4 million, primarily related to severance costs for affected employees.
The restructuring plan consists primarily of a targeted headcount reduction in connection with the acquisition of PicoChip, Mindspeed said.
Mindspeed said in January
it would acquire U.K.-based PicoChip, a provider of chipsets for cellular communications such as femtocell basestations, for $51.8 million, plus an additional amount of up to $25 million, depending on the achievement of unspecified milestones. The deal closed in February.
Minspeed did not immediately respond to a request for more information on the restructuring.