Communications chip maker Mindspeed Technologies Inc. announced on Tuesday afternoon that its rival company M/A-COM Technology Solutions Holdings would be buying the company for USD272 million in cash. This was according to a published report by Light Reading. M/A-COM would be purchasing Mindspeed's outstanding shares for its analog business and other operations for USD5.06 per share. Both tech companies expected to finalize the deal by the end of 2013, said the report. 

Meanwhile, Mindspeed is in the advanced stage of negotiations to divest its wireless operations. Over the next few weeks, it would be meeting with potential buyers of the said business, Light Reading reported. Included among the wireless assets Mindspeed would be selling is the Picochip team. Picochip was the UK small cell chip startup that Mindspeed bought fpr USD51.8 million in 2012. During that time, M/A-COM and Mindspeed's common customers included Cisco Systems Inc., Alcatel-Lucent, and Samsung Corp, said the report.

As of now, the value of Mindspeed's wireless business is still unknown, according to Light Reading's report.