Broadcom Corp. has completed its purchase of Allayer Communications, San Jose, in a stock swap deal.
The acquisition was valued at $276 million. Broadcom said it hopes to apply the technologies it is purchasing to harness the growth potential of the 10- Gbit Ethernet switch market, which is slated to be a dominant WAN standard by 2004, according to IDC, Framingham, Mass.
Meanwhile, Broadcom and 3Com have agreed to co-develop new products and cross-license technologies and to collaborate in marketing and supply chain management for gigabit Ethernet applications.
``We believe that the strategic alliance with Broadcom will accelerate the industry's transition to gigabit Ethernet,'' said Bruce Claflin, president and COO of 3Com, who noted that Broadcom is a leader in gigabit copper transceivers. According to a statement issued by Broadcom, 3Com accounts for more than 10 percent of Broadcom's revenue.