Broadcom Buys Gigle Networks

Irvine-based Broadcom, the developer of networking and communications semiconductors, announced this morning that it has signed a definitive agreement to buy Gigle Networks, a provider of systems-on-a-chip for home networking over power lines. Broadcom said it would pay approximately $75M to acquire all of the outstanding stock and rights of Gigle Networks, with up to $8M in earn out. Gigle had been venture backed by Accel Partners, Pond Ventures, and Scottish Equity Partners. Gigle had raised at least $31M in venture funding.