SAN FRANCISCO—Broadcom Corp. has closed the $316 million acquisition of LTE and WiMAX SoC vendor Beceem Communications Inc., the company said Wednesday.
Broadcom (Irvine, Calif.) said it paid about $316 million, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of Beceem. The purchase price was paid in cash, except that the portion attributable to unvested employee stock options was paid in stock options exercisable for shares of Broadcom's common stock, Brioadcom said.
Broadcom said it expects the acquisition of Beceem to be neutral to earnings in 2011.
Broadcom with its recently released CPU and its already existing network and communication chipsets is strategically going for the acquisitions. With this new assets of the LTE and WiMAX SoC solutions Broadcom can come out with the complete integrated chipsets in the future for the communication enabled devices for the automotive and industrial verticals.
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