This article was last updated on April 16, 2022
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In order to acquire processors that are used in wireless networking, Broadcom Corp, the same company that produces chips for Apple’s mobile devices has decided to purchase NetLogic Microsystems. Inc.According to a press release, the shareholders of NetLogic will acquire $50 a share. This purchase is Broadcom Corp’s attempt to challenge its bigger rival, Qualcomm Inc by augmenting its customer base.
The main aim behind this transaction of Broadcom Corp is to enhance its product line up by adding processors that can be used in wireless equipment including base stations. In fact, according to a statement issued by Broadcomm, the purchase is a great aid for the company in further developing their prospective market in network infrastructure. Broadcom Chief Executive Officer Scott McGregor said in an interview. “This acquisition expands our market into additional networking opportunities.”
NetLogic Microsystems has gained 1.6 percent this year. After this purchase, Broadcom has stated an expected increase in their per share earnings.
The deal is counted as the fourth-largest in the U.S chip maker industry. The deal has been approved by both the parties involved and it is said to be sealed in the first quarter of 2012. Broadcom has completed the transaction in $ 3.7bn
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