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Broadcom buys WiMAX SoC vendor

Posted: 26 Nov 2010 ?? ?Print Version ?Bookmark and Share

Keywords:WiMAX? acquisition? Beceem Communications Inc.?

Broadcom Corp. reported that it has closed the acquisition of LTE and WiMAX SoC vendor Beceem Communications Inc.

Broadcom said it paid $316 million net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of the fabless chipmaker. 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.

Broadcom expects the acquisition of Beceem to be neutral to earnings in 2011.

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