English
Broadcom Completes Acquisition of Sandburst Corporation
IRVINE, Calif. and ANDOVER, Mass. -- March 2, 2006-- Broadcom Corporation (Nasdaq: BRCM - News), a global leader in semiconductors for wired and wireless communications, today announced that it has completed the acquisition of Sandburst Corporation, a privately-held fabless semiconductor company specializing in the design and development of scalable packet switching and routing systems-on-a-chip (SoCs) that are deployed in enterprise core and metropolitan Ethernet networks.
On January 23 Broadcom announced a definitive agreement to acquire Sandburst, noting that the combination of Broadcom's industry-leading StrataXGS® III Ethernet Switches and Sandburst's Metropolitan Ethernet SoCs will allow Broadcom to offer a complete end-to-end Ethernet switching portfolio for the SOHO/SMB, enterprise, enterprise core and metro Ethernet markets.
In connection with the acquisition, Broadcom paid total consideration of approximately $77 million. Broadcom paid $72 million in cash in exchange for all outstanding shares of capital stock and vested stock options of Sandburst. A portion of the cash consideration was placed into escrow pursuant to the terms of the acquisition agreement. Broadcom also assumed all unvested employee stock options of Sandburst, which will entitle the holders to receive, upon vesting, up to approximately 110,000 shares of Broadcom Class A common stock, having a total value of approximately $5 million based upon the terms of the acquisition agreement. Broadcom may record a one-time charge for purchased in-process research and development expenses related to the acquisition in the first quarter of 2006. The amount of that charge, if any, has not yet been determined.
About Broadcom
Broadcom Corporation is a global leader in semiconductors for wired and wireless communications. Our products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. Broadcom provides 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, one of the world's largest fabless semiconductor companies with annual revenue of more than $2.5 billion, is headquartered in Irvine, Calif., and has offices and research facilities in North America, Asia and Europe. Broadcom may be contacted at 1-949-450-8700 or at www.broadcom.com.
On January 23 Broadcom announced a definitive agreement to acquire Sandburst, noting that the combination of Broadcom's industry-leading StrataXGS® III Ethernet Switches and Sandburst's Metropolitan Ethernet SoCs will allow Broadcom to offer a complete end-to-end Ethernet switching portfolio for the SOHO/SMB, enterprise, enterprise core and metro Ethernet markets.
In connection with the acquisition, Broadcom paid total consideration of approximately $77 million. Broadcom paid $72 million in cash in exchange for all outstanding shares of capital stock and vested stock options of Sandburst. A portion of the cash consideration was placed into escrow pursuant to the terms of the acquisition agreement. Broadcom also assumed all unvested employee stock options of Sandburst, which will entitle the holders to receive, upon vesting, up to approximately 110,000 shares of Broadcom Class A common stock, having a total value of approximately $5 million based upon the terms of the acquisition agreement. Broadcom may record a one-time charge for purchased in-process research and development expenses related to the acquisition in the first quarter of 2006. The amount of that charge, if any, has not yet been determined.
About Broadcom
Broadcom Corporation is a global leader in semiconductors for wired and wireless communications. Our products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. Broadcom provides 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, one of the world's largest fabless semiconductor companies with annual revenue of more than $2.5 billion, is headquartered in Irvine, Calif., and has offices and research facilities in North America, Asia and Europe. Broadcom may be contacted at 1-949-450-8700 or at www.broadcom.com.
|
||||||
Related News
- Broadcom Completes Acquisition of LTE-Related Assets from Affiliates of Renesas Electronics Corporation
- Renesas Completes Acquisition of Integrated Device Technology
- Broadcom Eyes New Acquisition Targets
- Silvaco Completes Acquisition of NanGate
- Broadcom Presents Best and Final Offer for Qualcomm of $82.00 Per Share
Breaking News
- Mercury Systems Announces Acquisitions of The Athena Group and Syntonic Microwave
- Arm China selects Mentor's Questa Verification Solution to enhance power efficiency and speed development of MCU designs
- Allegro DVT Introduces the Industry First Real-Time AV1 Video Encoder Hardware IP for 4K/UHD Video Encoding Applications
- Synopsys Establishes Center of Excellence with STMicroelectronics to Speed Development of Automotive Electronic Systems
- Intel to Exit 5G Smartphone Modem Business, Focus 5G Efforts on Network Infrastructure and Other Data-Centric Opportunities
Most Popular
- TSMC Unveils 6-nanometer Process
- Globalfoundries' Morgenstern: Diversity is key in Dresden
- Synopsys Establishes Center of Excellence with STMicroelectronics to Speed Development of Automotive Electronic Systems
- Qualcomm and Apple agree to drop all litigation
- Allegro DVT Introduces the Industry First Real-Time AV1 Video Encoder Hardware IP for 4K/UHD Video Encoding Applications
|
E-mail This Article | 
|
|
Printer-Friendly Page |