Monday, August 24, 2009

Ikanos Communications Completes Buy Of Conexant's Broadband Access Line

Fremont-based Ikanos Communications said Monday afternoon that it has completed its acquisition of Conexant's Broadband Access product line. The acquisition was originally announced in April. The deal was worth $54M, and was funded via $42M in funding from Tallwood Venture Cpaital. George Pavlov and Dado Banatao of Tallwood have joined the firm's board along with the new funding round, replacing Gopal Venkatesh and Elizabeth Fetter. Ikanos said that Craig Garen, who was SVP and GM of Conexant's Broadband Access unit, is now Chief Operating Officer at the firm.