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Element 14 Inc

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October 5, 2000 | Bloomberg News
Broadcom Corp., the No. 1 maker of chips for cable modems, agreed to buy the Britain's Element 14 Inc. for $641.1 million in stock to gain chips for high-speed Internet service delivered on telephone lines. Irvine-based Broadcom will pay about 2.65 million Class A common shares for closely held Element 14, which doesn't have any revenue. Element 14, based in Cambridge, England, will reduce Broadcom's earnings per share by 1.
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BUSINESS
October 5, 2000 | Bloomberg News
Broadcom Corp., the No. 1 maker of chips for cable modems, agreed to buy the Britain's Element 14 Inc. for $641.1 million in stock to gain chips for high-speed Internet service delivered on telephone lines. Irvine-based Broadcom will pay about 2.65 million Class A common shares for closely held Element 14, which doesn't have any revenue. Element 14, based in Cambridge, England, will reduce Broadcom's earnings per share by 1.
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BUSINESS
October 5, 2000 | KAREN ALEXANDER, TIMES STAFF WRITER
Broadcom Corp. said Wednesday it would buy British chip maker Element 14 Inc. for about $641 million in stock, further positioning itself to be the leading provider of semiconductors for high-speed Internet access. The purchase, Broadcom's ninth this year, gives the Irvine firm more technology to strengthen its development of chips for high-speed Internet access over telephone lines, known as digital subscriber line or DSL.
BUSINESS
October 19, 2000 | KAREN ALEXANDER, TIMES STAFF WRITER
Broadcom Corp., the industry's fastest-growing semiconductor maker, reported third-quarter earnings Wednesday that far exceeded the forecasts of industry analysts and posted revenue that more than doubled sales from a year ago. Without one-time expenses from the Irvine-based company's aggressive acquisition strategy, Broadcom earned $78.7 million, or 30 cents a share, compared with net income of $24.6 million, or 10 cents a share, for last year's third quarter.
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