Deals
PMC-Sierra Said to Hire Financial Adviser to Seek Sale
- Deal would continue yearlong trend of chip consolidation
- Company may struggle to find buyer as sales have declined
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Chipmaker PMC-Sierra Inc. has hired a financial adviser to seek a sale of the company, according to people familiar with the matter.
No deal is imminent and a transaction may not occur, said the people, who asked not to be identified because discussions are private. PMC, which is based in Santa Clara, California, is being pitched to other semiconductor companies, rather than private-equity firms, one of the people said.