Broadcom Buys LVL7 Systems

Irvine-based Broadcom said today that it is in a definitive agreement to acquire North Carolina-absed LVL7 Systems, a developer of networking software. The deal is worth approximately $62M in cash. LVL7's software is used by original equipment manufacturers and designers to implement IP and Ethernet products. Broadcom said the acquisition will enable it to enhance its product offering in the small to medium-sized business market segment, by providing a way for its customers to get new systems to market quickly. The acquisition is expected to close by December 31st.