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 VMware
- Broadcom Completes Acquisition of LTE-Related Assets from Affiliates of Renesas Electronics Corporation
- AMD Completes Acquisition of Silo AI to Accelerate Development and Deployment of AI Models on AMD Hardware
- Renesas Completes Acquisition of Altium
- Cadence Completes Acquisition of BETA CAE
Breaking News
- JEDEC® and Industry Leaders Collaborate to Release JESD270-4 HBM4 Standard: Advancing Bandwidth, Efficiency, and Capacity for AI and HPC
- BrainChip Gives the Edge to Search and Rescue Operations
- ASML targeted in latest round of US tariffs
- Andes Technology Celebrates 20 Years with New Logo and Headquarters Expansion
- Creonic Unveils Bold Rebrand to Drive Innovation in Communication Technologies
Most Popular
- Cadence to Acquire Arm Artisan Foundation IP Business
- AMD Achieves First TSMC N2 Product Silicon Milestone
- Why Do Hyperscalers Design Their Own CPUs?
- Siemens to accelerate customer time to market with advanced silicon IP through new Alphawave Semi partnership
- New TSN-MACsec IP core for secure data transmission in 5G/6G communication networks
|
E-mail This Article | 
|
|
Printer-Friendly Page |