Broadcom Corp. announced Wednesday that it has acquired Sand Video Inc.
Sand is a privately held Andover, Mass.-based company focused on the development of advanced video-compression-semiconductor technology for a broad range of consumer digital-video applications.
Broadcom will pay approximately $77.5 million -- $70.1 million in the form of 1.666 million shares of its class-A common stock issued or reserved for future issuance (valued at the NASDAQ National Market closing price April 6) and $7.4 million in cash consideration -- in exchange for all outstanding shares of Sand capital stock and upon exercise of outstanding employee stock options and other rights.
"The combination of technologies and products from Broadcom and Sand Video will enable Broadcom's customers to bring to market next-generation video solutions for a range of products, including digital TVs; enhanced cable- and satellite-TV set-top boxes; personal video recorders; high-definition DVD recorders and players; Internet-protocol set-top boxes; and videoconferencing," Broadcom said in a prepared statement.
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