Tuesday, June 12, 2007

Global Locate Acquired By Broadcom

San Jose-based Global Locate, a company developing assisted global positioning system (A-GPS) and global positioning (GPS) chips used in mobile phones, has been acquired by Broadcom for $146M in cash plus up to $80M in future payments. Global Locate was backed by Firsthand Capital Management, GC Investments, Motorola, Siemens Venture Capital and Third Point Offshore Fund. The firm had raised at least $22M in venture capital prior to strategic investments by Motorola and Siemens Venture Capital.