Hey Marty!!!

[Admin]

It's deja vu all over again!!!

finance.yahoo.com/news/appliedmicro-appoints-martin-mcdermut-chief-133000796.html

"Mr. McDermut was most recently senior vice president, finance and chief financial officer of Vitesse Semiconductor Corporation from August 2011 until April 2015, when the company was acquired by Microsemi Corporation."

Having weathered the mother of all debacles, Mr. McDermut can certainly handle this.

[christopher]

I am not sure if this is "good luck" or "bad luck"

I do know one thing: be ready for another SEC filing with a release of stock.

[Xgene]

If a sale was right around the corner, why bring in a new CFO? I would think a sale is now pushed out...

[christopher]

A sale being "right around the corner" was just one story written,  based on one individuals thought of that happening.

www.thestreet.com/story/13188365/1/applied-micro-could-be-open-to-billion-dollar-sale-under-new-director.html

There were also other stories stating who the possible acquirers may be IF a sale were to happen.

finance.yahoo.com/news/tech-giants-might-buy-applied-183437358.html

A sale may never occur. Who knows though, a sale may be in the works as we speak. I do know one thing: A sale includes a whole list of tasks that only a full time, very experienced, Chief financial officer would be expected to accomplish. What I have experienced with a past investment in a company that was sold(VTSS), This CFO was paid quite handsomely for his participation!

Like I stated before,If Quarterly revenue numbers are on the rise then I am all for a "pushed out" sale of AMCC

[Admin]

Could Marty have been hired exactly because he just went through working for a company who was acquired?

[christopher]

phobos,

I think that is a great probability.

Thinking back on the sale of Vitesse. Did it not take a number of years for this deal to play out?

I just went back to my notes: Microsemi began an attempt to acquire Vitesse in 2012. Vitesse sold to Microsemi in March of 2015.

adding to your post above: Marty was hired by Vitesse in 2011. Four years before a sale occurred.

It does state in story below that CFO Marty is focused on maximizing shareholder value! (if that's the case then an immediate sale will not be in the cards)

finance.yahoo.com/news/appliedmicro-appoints-martin-mcdermut-chief-133000796.html

[Xgene]

All excellent points Chris and Admin, and I do like how Marty was just involved in a transaction. Certainly, he did his due diligence prior to joining.

[christopher]

The names of companies listed that could have an interest in acquiring Applied Micro is impressive:

Qualcomm
Intel
Apple
Google
Amazon
Microsoft

[Admin]

And just one more thing about Mr. McDermut. During his tenure at VTSS he proved himself to be an impartial and capable scorekeeper of the company's finances, unlike Eugene Hovanec who previously occupied that function and arguably was, along with Lou, the author of the debacle through either criminality, malfeasance, or both. I think it's a good move on the part of AMCC. The fact that Lou and Hovanec walked says loads about the honesty of the (so-called) free market in general. Retribution is only brought against little people who break the law. At least I'm not bitter.

McDermut is a good choice.