MERGERS AND ACQUISITIONS
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Irvine's Broadcom buys tech firm for $123 million
Acquisition will help chipmaker better serve customers, according to company executive.
By Kristen SchottPublished: February 04, 2010 11:49 AM
Irvine-based Broadcom plans to buy Teknovus, a Petaluma-based developer of embedded software, for $123 million. The company will acquire Teknovus' outstanding shares of stock and other rights through the deal.
Teknovus specializes in products for the Ethernet Passive Optical Network, which is a technology providing broadband services at up to 10 gigabits per second, and has a "solid reputation" with Broadcom's customers, according to Martin Lund, senior vice president and general manager of Broadcom's network switching operations.
"Teknovus' products will add a key element to our existing service provider offering that will enable use to better serve our customers in this segment," he says.
Through the deal, the two companies can also combine their expertise in the field to offer higher performance, lower-cost Ethernet Passive Optical Network-based platforms, notes Greg Caltabiano, president and CEO of Teknovus.
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Teknovus specializes in products for the Ethernet Passive Optical Network, which is a technology providing broadband services at up to 10 gigabits per second, and has a "solid reputation" with Broadcom's customers, according to Martin Lund, senior vice president and general manager of Broadcom's network switching operations. "Teknovus' products will add a key element to our existing service provider offering that will enable use to better serve our customers in this segment," he says. Through the deal, the two companies can also combine their expertise in the field to offer higher performance, lower-cost Ethernet Passive Optical Network-based platforms, notes Greg Caltabiano, president and CEO of Teknovus. NEXT PAGE >> Related headlines O.C. sees spike in business sales activity Brand Affinity Technologies acquires virtual sports collectibles firm Beelya Newport Beach-based Acacia subsidiary wins lawsuit against Yahoo! |
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