PALO ALTO — Local teams from O’Melveny & Myers and Latham & Watkins were tapped for Microsemi Corp.’s acquisition of Symmetricom Inc.

Microsemi, a power management and security chipmaker, will pay about $230 million through a cash tender offer for the developer of atomic timing equipment. The transaction is expected to close by the end of the year, though Symmetricom can entertain other offers through Nov. 8.