Broadcom Announces Intention to Acquire Innovision Research & Technology PLC
IRVINE, Calif., June 17, 2010 -- Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced its subsidiary, Broadcom International Ltd., has agreed to terms with the board of Innovision Research & Technology PLC, (a company listed on the Alternative Investment Market of the London Stock Exchange: INN), to make an all-cash offer to acquire all of the issued and to be issued shares of Innovision. Innovision is a leader in near-field communication (NFC) technology.
Under the terms of the offer, Innovision shareholders will receive Pounds Sterling 0.35 (approximately $0.52) per share in cash for each Innovision share held, representing a total equity value of approximately $47.5 million based on current exchange rates. This offer represents a 84.2% premium above the closing price of Innovision common stock on June 17, 2010. Broadcom expects to close the acquisition of Innovision in the third quarter of 2010.
The full terms of today's announcement are accessible at http://investor.broadcom.com/rule-2-5disclaimer.cfm.
This press release and the full announcement by Broadcom International Ltd. concerning the offer for the entire issued and to be issued ordinary share capital of Innovision Research & Technology PLC (the "Offer") does not constitute or form part of any offer or invitation to sell or purchase any securities or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, pursuant to the Offer or otherwise. The Offer will be made solely by an offer document and (in the case of certificated holders of Innovision Research & Technology PLC ordinary shares) the accompanying form of acceptance which will contain the full terms and conditions of the Offer, including details of how the Offer may be accepted.
About Broadcom
Broadcom Corporation is a major technology innovator and global leader in semiconductors for wired and wireless communications. Broadcom products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. We provide the industry's broadest portfolio of state-of-the-art system-on-a-chip and software solutions to manufacturers of computing and networking equipment, digital entertainment and broadband access products, and mobile devices. These solutions support our core mission: Connecting everything®.
Broadcom is one of the world's largest fabless communications semiconductor companies, with 2009 revenue of $4.49 billion, and holds over 4,050 U.S. and over 1,460 foreign patents, more than 7,900 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.
A FORTUNE 500® company, Broadcom is headquartered in Irvine, Calif., and has offices and research facilities in North America, Asia and Europe. Broadcom may be contacted at +1.949.926.5000 or at www.broadcom.com.
|
Related News
- Broadcom to Acquire VMware for Approximately $61 Billion in Cash and Stock
- Skyworks to Acquire the Infrastructure & Automotive Business of Silicon Labs
- Synaptics to Acquire Rights to Broadcom's Wireless IoT Connectivity Business
- Broadcom Proposes to Acquire Qualcomm for $70.00 per Share in Cash and Stock in Transaction Valued at $130 Billion
- Cypress to Acquire Broadcom's Wireless Internet of Things Business
Breaking News
- Cadence Announces Most Comprehensive True Hybrid Cloud Solution to Provide Seamless Data Access and Management
- Dolphin Design expands GoAsic partnership to enhance the semiconductor Industry's Supply Chain
- Cadence Collaborates with MemVerge to Increase Resiliency and Cost-Optimization of Long-Running High-Memory EDA Jobs on AWS Spot Instances
- M31 Successfully Validates 5nm IP Solution to Empower Global AI Applications
- Cadence Unveils Palladium Z3 and Protium X3 Systems to Usher in a New Era of Accelerated Verification, Software Development and Digital Twins
Most Popular
- Rivos Raises More Than $250M Targeting Data Analytics and Generative AI Markets
- Semiconductor Capacity Is Up, But Mind the Talent Gap
- Zhuhai Chuangfeixin: OTP IP Based on 90nm CMOS Image Sensor Process Technology Successfully Mass Production
- CMC Microsystems and AIoT Canada Sign Memorandum of Understanding to support IoT and semiconductor ecosystem growth in Canada
- Microchip Technology Acquires Neuronix AI Labs
E-mail This Article | Printer-Friendly Page |