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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Conexant Completes Purchase of NetPlane

October 03, 2000|Dow Jones

Semiconductor firm Conexant Systems Inc. said it has completed its previously announced acquisition of software developer NetPlane Systems Inc. for stock.

NetPlane, based in Dedham, Mass., will operate as a wholly owned subsidiary of Newport Beach-based Conexant.

When the deal was announced in July, Conexant said it would acquire NetPlane for 2.7 million shares of stock. The deal would be worth more than $105.6 million, based on the Monday price of Conexant's shares, which closed at $39.13, off $2.75, in Nasdaq trading.

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