Broadcom Buys Zyray Wireless in 3G Push
Broadcom will pay 2.23 million shares currently worth $96 million to shareholders of Zyray, which manufactures a coprocessor allowing 3G technologies to be added to mobile handsets.Broadcom said Wednesday that it has acquired Zyray Wireless, which manufactures a coprocessor allowing 3G technologies to be added to mobile handsets. Zyrays SPINNER chip will be combined with Broadcom Corp.s single-chip EDGE/GPRS/GSM controllers, the company said. San Diego-based Zyray Wireless Inc. is also working on HSDPA (High Speed Downlink Packet Access) technology, the next step beyond WCDMA (Wideband Code Division Multiple Access) that will allow data rates of 10 Mbits/s. As part of the deal, Irvine, Calif.-based Broadcom will pay Zyray shareholders 2.23 million shares currently worth $96 million, although the deal will close in the third quarter. A $3 million convertible note Broadcom had held in Zyray will be canceled without repayment.
Click here to read about Broadcoms SecureEZSetup, a software tool that protects consumer WLANs.