Cavium Networks in definitive agreement to acquire Star Semiconductor

Jul 17, 2008 (M2 EQUITYBITES via COMTEX) -- CAVM | Quote | Chart | News | PowerRating -- Cavium Networks (CAVM), a provider of semiconductor products enabling intelligent processing for applications, announced on Wednesday (16 July) that the company has entered into a definitive agreement to acquire certain assets and business of Star Semiconductor Corporation, a designer of integrated ARM-based SOC processors for the broadband, connected home and SOHO market segments based in Taiwan.

The net purchase price of the acquisition is approximately USD9m in cash.

This acquisition will reportedly provide Cavium Networks with an experienced stand-alone SOC processor team based in Taiwan. The transaction is expected to close in the third calendar quarter of 2008.

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