Looking to complement its IP switches and digital signal processors, cable modem and computer-network switch maker Broadcom has snapped up network processor maker SiByte.
Broadcom said it would issue approximately 5.6 million shares of common stock to SiByte shareholders, valuing the purchase price at around $1.25 billion.
SiByte makes the Mercurian family of high-performance, low-power processors. Mercurian processors deliver the four ingredients needed for embedded broadband network processors: high performance, low power, high integration of network-centric functions and programmability based on an industry-standard architecture.
One of the few tech stocks continuing to do well, Broadcom opened Monday at $222 9/16.