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Broadcom Completes Acquisition of NetLogic
This is a Press Release edited by StorageNewsletter.com on Mon, February 20th, 2012
For $3.7 billion as previously announced
The combination enables Broadcom to deliver integrated network infrastructure platforms to its customers, reducing both time-to-market and development costs. The addition of NetLogic Microsystems also extends Broadcom's infrastructure portfolio with technologies including multi-core embedded processor and knowledge-based processor solutions, both critical enablers of the next generation infrastructure build-out.
"The NetLogic acquisition is a significant milestone in Broadcom's strategy to extend its communications infrastructure leadership and take advantage of the explosive growth in mobile and video traffic and the rise of cloud computing," said Broadcom CEO Scott McGregor. "This acquisition adds a high-margin, high-growth business that strongly increases the addressable market of our infrastructure and networking business."
Ron Jankov, former president and CEO of NetLogic Microsystems, joins Broadcom as a Senior Vice President and General Manager, reporting to Rajiv Ramaswami, Broadcom's Executive Vice President and General Manager, Infrastructure & Networking Group.
NetLogic Microsystems' 700-plus employees will immediately become part of Broadcom.
The transaction, announced on September 12, 2011, cleared all required regulatory reviews and was approved by NetLogic Microsystems' stockholders. Broadcom will include NetLogic Microsystems' contribution to financial performance in the company's first quarter earnings announcement.
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It contains more than 350 current
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