Broadcom to buy NetLogic for $3.7 billion

(Reuters) - Wireless chipmaker Broadcom Corp agreed to buy NetLogic Microsystems Inc for about $3.7 billion to add new technologies to its portfolio.

Broadcom will pay $50 per share for each NetLogic share, a premium of 57 percent over NetLogic's Friday close of $31.91 on Nasdaq.

Broadcom expects the deal to add 10 cents a share to its earnings on an adjusted basis in 2012.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Maju Samuel)