Mergers and Acquistions News
Categories: Telecoms, Semi-Conductors, Software
June 22nd 2010, 17:37PM
Semiconductor firm Broadcom has announced it is planning the acquisition of Innovision Research and Technology.
Broadcom is to pay Innovision shareholders 35 pence a share in an all-cash offer, which represents an 84.2 per cent premium on the shares' value. Broadcom said it expects to complete the acquisition by the end of the year.
Innovision is a leader in RFID smart tags and near-field communication (NFC) technology which Broadcom believes will become increasingly widespread as the use of mobile devices grows.
Broadcom is one of the world's leading semiconductor firms specialising in wired and wireless communications and reported total revenue in 2009 of $4.49 billion (£3 billion).
Meanwhile, Innovision reported net losses in excess of £2 million for the last fiscal year.
Innovision recently launched its latest addition to its portfolio of low-cost tags - Topaz-512. It hopes this will open up more opportunities in the development of non-payment application of NFC.
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