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Broadcom Agrees to Buy Alphamosaic

IN BRIEF / TECHNOLOGY

September 21, 2004|From Dow Jones/Associated Press

Broadcom Corp. said it had agreed to acquire Alphamosaic Ltd., a privately held British maker of multimedia processors used in mobile devices, for about $123 million in cash and stock.

Under the agreement, the Irvine-based semiconductor company would give Cambridge-based Alphamosaic about 4.17 million shares of Broadcom common stock, worth about $120.3 million based on Friday's closing price of $28.86 on Nasdaq.

Broadcom also would give Alphamosaic about $2.7 million in cash.

Shares of Broadcom rose 49 cents to $29.35 on Nasdaq.

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