April 20, 2004, 9:04 AM — Semiconductor maker Broadcom Corp. said Monday that it has agreed to acquire privately held Bluetooth software specialist Widcomm Inc.
Broadcom, in Irvine, California, will buy the company for about US$49 million in stock. Up to about $3 million of the acquisition price may be paid in cash, Broadcom said in a statement.
San Diego, California-based Widcomm's software complements Broadcom's Bluetooth semiconductor portfolio, Broadcom said. The software is used in more than 100 Bluetooth wireless products from more than 80 customers including Dell Inc., Sony Corp. and IBM Corp., according to Broadcom.
The acquisition is expected to close before June 30, provided it gets the approval of Widcomm shareholders and meets regulatory requirements and other customary closing conditions, Broadcom said.