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Serverworks Corp

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BUSINESS
January 9, 2001 | KAREN ALEXANDER, TIMES STAFF WRITER
Despite the sharp fall in its stock price, Broadcom Corp. continued its buying spree Monday, stating it would acquire a Santa Clara, Calif., company that develops chips for computer network servers and storage systems for stock worth more than $1 billion. Marking its first purchase of a profitable, established company, the Irvine semiconductor maker said it will issue 11 million shares--the most for any of its numerous acquisitions so far--to buy ServerWorks Corp.
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BUSINESS
January 9, 2001 | KAREN ALEXANDER, TIMES STAFF WRITER
Despite the sharp fall in its stock price, Broadcom Corp. continued its buying spree Monday, stating it would acquire a Santa Clara, Calif., company that develops chips for computer network servers and storage systems for stock worth more than $1 billion. Marking its first purchase of a profitable, established company, the Irvine semiconductor maker said it will issue 11 million shares--the most for any of its numerous acquisitions so far--to buy ServerWorks Corp.
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BUSINESS
February 8, 2001 | KAREN ALEXANDER, TIMES STAFF WRITER
For the first time since Broadcom Corp.'s soaring public offering two years ago, the company's exuberant chief executive delivered a bitter pill to analysts and investors Wednesday, warning that the chip maker is experiencing slower sales growth than previously expected. The warning, delivered at an informal technology conference in San Francisco, surprised some in attendance, who apparently bolted from the event to respond in the marketplace.
BUSINESS
April 19, 2001 | KAREN ALEXANDER, TIMES STAFF WRITER
Rapidly falling sales at Broadcom Corp. prompted the high-speed communications chip maker Wednesday to say that it will make "material" cuts in its work force and post a loss for the second quarter. The unspecified number of job cuts, the first since the Irvine company went public three years ago, comes as lower demand has stalled its rapid growth and sent its stock price reeling from last year's dizzying heights.
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