Broadcom Completes Altima Acquisition

Plans to operate Altima as a wholly-owned subsidiary and to retain the Altima name for its product line

September 8, 2000

1 Min Read

IRVINE, Calif. -- Broadcom Corporation (Nasdaq:BRCM), the leading provider of integrated circuits enabling high speed broadband communications, today announced that it has completed the acquisition of Altima Communications, Inc.

In connection with the acquisition, Broadcom issued an aggregate of 1,661,784 shares of its Class A Common Stock in exchange for all outstanding shares of Altima Preferred and Common Stock and reserved 875,111 additional shares of Class A Common Stock for issuance upon exercise of outstanding employee stock options of Altima. The share issuances were exempt from registration pursuant to section 3(a)(10) of the Securities Act of 1933, as amended. Portions of the shares issued will be held in escrow pursuant to the terms of the acquisition agreement as well as various employee share repurchase agreements.

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