Semiconductor manufacturer Broadcom Corporation (NASDAQ:BRCM) will acquire competitor Beceem Communications in a deal valued at $316 million. The deal will strengthen Broadcom’s access to 4G product technology and wireless infrastructure.
Broadcom’s chips are used in a wide range of cellular and multimedia products, including the Apple (NASDAQ:AAPL) iPad, cellular phones, and home networks. Broadcom plans to use the Beceem acquisition to produce more lower-priced devices for 4G networks using WiMax or LTE technologies.
"When combined with Broadcom's 2G and 3G cellular solutions and broader wired and wireless communications portfolio, our 4G products will enable operators to roll out next generation wireless broadband solutions while providing support for existing networks," said Beceem CEO Surendra Babu Mandava in a company release.