December 1, 2010 (FinancialWire) (http://www.financialwire.net/) — Broadcom Corp. (NASDAQ: BRCM), a provider of semiconductors for wired and wireless communications, said that it has completed its acquisition of Beceem Communications, Inc., a privately-held company that develops system-on-a-chip solutions for LTE and WiMAX 4G connectivity.

Under the deal, Broadcom paid around $316 million, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of Beceem.

The company said that the purchase price was paid in cash, except that the portion attributable to unvested employee stock options was paid in stock options exercisable for shares of Broadcom's common stock. A portion of the cash consideration payable to the stockholders was placed into escrow.

Broadcom said it expects the acquisition of Beceem to be neutral to earnings in 2011.

California-based Broadcom has a portfolio of system-on-a-chip and software solutions that it offers to manufacturers of computing and networking equipment, digital entertainment and broadband access products, and mobile devices.  

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