(Updated - November 2, 2016 5:11 PM EDT)

Microsemi (NASDAQ: MSCC) is running a sale process after receiving takeover interest from Skyworks (Nasdaq: SWKS), according to Bloomberg, citing people familiar.

Microsemi reportedly hired Bank of Montreal after Skyworks offered to buy the company. The process is in the early stages and no deal is imminent. Another financially adviser is working alongside Bank of Montreal.

In October StreetInsider first reported that Microsemi was trying to sell itself.