Monday, January 23, 2006
Broadcom Buys Packet Switching Firm For $80M
Irvine-based communications semiconductor firm Broadcom has purchased Sandburst, an Andover, Mass based fabless semiconductor company developing packet switching and routing systems-on-a-chip. Broadcom said that it will pay $75M in cash plus up to 100,000 shares of stock for the firm. Sandburst provides switching and routing systems, including packet processors and traffic management capabilities. Broadcom said that it acquired Sandburst to accelerate convergence of triple-play traffic. The acquisition is expected to close in March. Sandburst was venture funded by Intel Capital, 3i, Investor Growth Capital, and Greylock, and had raised more than $75M in venture funding during its lifetime.