Broadcom Completes NewPort BuyBroadcom Completes NewPort Buy
Broadcom issued 5,211,050 shares of its Class A Common Stock in exchange for all outstanding shares of NewPort Communications
October 4, 2000
IRVINE, Calif. -- Broadcom Corporation (Nasdaq: BRCM), the leading provider of integrated circuits enabling broadband communications, today announced that it has completed the acquisition of NewPort Communications, Inc. NewPort Communications designs and develops high-performance integrated circuits for optical communications. Its product portfolio includes OC-48 and OC-192 SONET transceivers, framers, Serial 10 Gbps Ethernet transceivers and the world's highest speed SerDes technology. NewPort is based in Irvine.
In connection with the acquisition, Broadcom issued an aggregate of 5,211,050 shares of its Class A Common Stock in exchange for all outstanding shares of NewPort Communications Preferred and Common Stock and reserved 411,088 additional shares of Class A Common Stock for issuance upon exercise of outstanding employee stock options of NewPort.
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