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| Broadcom would acquire Global Locate, Inc. |
| 06/12/2007 |
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| Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced that it has signed a definitive agreement to acquire Global Locate, Inc., a privately-held, fabless provider of industry-leading global positioning system (GPS) and assisted GPS (A-GPS) semiconductor products and software. GPS is expected to join BluetoothR and similar wireless technologies as a pervasive feature in next generation mobile devices. Global Locate's semiconductor solutions are used in mobile phones from leading cellular handset makers and incorporated into products from TomTom NV, the largest personal navigation device (PND) vendor in the world. Broadcom expects to pay approximately $146 million net in cash at closing in exchange for all outstanding shares of capital stock and other rights of Global Locate. Additional consideration of up to $80 million in cash will be reserved for future payment to the former holders of Global Locate capital stock and other rights upon satisfaction of certain performance goals.
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