Friday, November 19, 2010

PMC-Sierra Completes Wintegra Acquisition

Santa Clara-based PMC-Sierra said late Thurday that it has completed its acquisition of Wintegra, a developer of integrated network processors for the mobile backhaul market. The deal was worth $240M in cash, minus approximately $26M in cash acquired at closing, plus a possibility of an additional $60M in earn out. PMC-Sierra said the acquisition helps it accelerate its offerings in the IP/Ethernet packet-based mobile backhaul market. Wintegra was backed by Magma Venture Capital, Concord Ventures, Genesis Partners, Marvell Semiconductor, Texas Instruments, and Tenaya Capital.