ALISO VIEJO, Calif., Jan. 5, 2018 /PRNewswire/ -- Microsemi Corporation (Nasdaq: MSCC), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, today announced its support for the immediate passage of the National Resiliency and Timing Security Act of 2017, which was recently introduced under the leadership of Sen. Cruz (R-Texas) and Sen. Markey (D-Massachusetts). This act seeks to provide for the immediate establishment of an urgently needed backup for the Global Positioning System, commonly known as GPS.
GPS provides critical positioning, navigation and timing (PNT) capabilities to virtually every sector of the U.S. economy, from navigation of cars, trucks, ships and planes, to operations of telephone and data communications networks, power plants, stock exchanges and the internet. Were GPS to be disrupted, the ensuing economic impact to the nation would be severe. The successes and benefits of GPS have made it a utility for the nation's critical infrastructure sectors, but there is no resilient, independent backup system—making GPS a single point of failure.
"This bipartisan act provides for the immediate development and build out of a backup system to increase the resilience of GPS and thereby protect the security of our national critical infrastructure," said John Costello, Microsemi's corporate vice president of business development and government relations. "We applaud both Senator Cruz and Senator Markey for introducing this much-needed legislation and strongly support its immediate enactment."
Microsemi Corporation (Nasdaq: MSCC) offers a comprehensive portfolio of semiconductor and system solutions for aerospace & defense, communications, data center and industrial markets. Products include high-performance and radiation-hardened analog mixed-signal integrated circuits, FPGAs, SoCs and ASICs; power management products; timing and synchronization devices and precise time solutions, setting the world's standard for time; voice processing devices; RF solutions; discrete components; enterprise storage and communication solutions, security technologies and scalable anti-tamper products; Ethernet solutions; Power-over-Ethernet ICs and midspans; as well as custom design capabilities and services. Microsemi is headquartered in Aliso Viejo, California and has approximately 4,800 employees globally. Learn more at www.microsemi.com.
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including statements related to its support of the immediate passage of the National Resiliency and Timing Security Act of 2017, and its potential effects on future business, are forward-looking statements. These forward-looking statements are based on our current expectations and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The potential risks and uncertainties include, but are not limited to, such factors as rapidly changing technology and product obsolescence, potential cost increases, variations in customer order preferences, weakness or competitive pricing environment of the marketplace, uncertain demand for and acceptance of the company's products, adverse circumstances in any of our end markets, results of in-process or planned development or marketing and promotional campaigns, difficulties foreseeing future demand, potential non-realization of expected orders or non-realization of backlog, product returns, product liability, and other potential unexpected business and economic conditions or adverse changes in current or expected industry conditions, difficulties and costs of protecting patents and other proprietary rights, inventory obsolescence and difficulties regarding customer qualification of products. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in the company's most recent Form 10-K and all subsequent Form 10-Q reports filed by Microsemi with the SEC. Additional risk factors may be identified from time to time in Microsemi's future filings. The forward-looking statements included in this release speak only as of the date hereof, and Microsemi does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
SOURCE Microsemi Corporation