Skyworks tops rival's bid to buy California chip maker

October 30, 2015 2:19 PM

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Almost two weeks after it was outbid by another firm, Woburn-based chip maker Skyworks Solutions Inc. said Friday it's sealed a deal to acquire California rival PMC-Sierra Inc. for $2.27 billion in cash.

The bid is slightly higher than the $2.25 billion in cash and stock recently offered by California's Microsemi Corp. for PMC-Sierra (Nasdaq: PMCS) after Apple supplier Skyworks (Nasdaq: SWKS) announced its original bid.

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