Broadcom Completes Acquisition of Provigent
IRVINE, Calif., April 25, 2011 - Broadcom Corporation (Nasdaq: BRCM), a global innovation leader in semiconductors for wired and wireless communications, today announced it has completed the acquisition of Provigent Inc., a leading provider of highly integrated, high performance, mixed signal semiconductors for microwave backhaul systems.
In connection with the acquisition, Broadcom paid approximately $313 million, net of cash assumed, to acquire all of the outstanding shares of capital stock and other rights of Provigent. The purchase price was paid in cash, except that a portion attributable to certain holders of unvested employee stock options will be provided in the form of Broadcom equity awards. A portion of the cash consideration payable to the stockholders was placed into escrow. Excluding any purchase accounting related adjustments and fair value measurements, Broadcom expects the acquisition of Provigent to be approximately neutral to earnings per share in 2011.
About Broadcom
Broadcom Corporation is a prominent technology innovator and global leader in semiconductors for wired and wireless communications. Broadcom products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. We provide the industry's broadest portfolio of state-of-the-art system-on-a-chip and embedded 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 communications semiconductor companies, with 2010 revenue of $6.82 billion, holds more than 4,800 U.S. and 2,000 foreign patents, and has more than 7,800 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.
Broadcom, a FORTUNE 500® company, was recognized in FORTUNE's 2011 "World's Most Admired Companies" survey as the innovation leader in the semiconductor category. Broadcom is headquartered in Irvine, Calif., and has offices and research facilities in North America, Asia and Europe. Broadcom may be contacted at +1.949.926.5000 or at www.broadcom.com.
Contacts
Media Relations
Tamara Snowden
Senior Manager, Corporate Communications
408-922-6505
tamaras@broadcom.com
