Qualcomm Buys Ikanos

San Diego-based Qualcomm announced this morning that it is buying xDSL networking technology provider Ikanos, in a deal worth approximately $47.0M. Qualcomm said it would pay $2.75 per share in cash for Ikanos, which trades on the NASDAQ as IKAN. Ikanos had closed yesterday at $1.75 per share. Qualcomm made the acquisition via its subsidiary, Qualcomm Atheros. Qualcomm said the acquisition will add high performance broadband access and modem technologies to its products. Ikanos is based in Fremont, California.