I wouldn't necessarily call SMSC's business blanketly "low-margin" business, though. SMSC has a collection of unique, proprietary technologies -- incluidng Kleer and MOST. SMSC's business always fascinated me.
Working for a media company whose office is located in Long Island, I do have to agree with you, Tom. Ha, ha.
But seriously, this is a BIG acquisition for Microchip; and a big change for SMSC. A lot of people's lives will change.
How will they get along? They both were Long Island companies a few decades ago -- there was for a while a mixture of sales and marketing types. And the current Engineering head is ex-Microchip (when it was called General Instrument Semiconductor.)
And, if course, because it is Long Island it is technically the best.