Tuesday, August 25, 2009

Ikanos Communications Completes Acquisition of Broadband Access Product Line From Conexant Systems, Inc.

Ikanos Communications, Inc., a leading provider of advanced broadband semiconductor and software products for the digital home, today announced that it has completed the acquisition of the Broadband Access product line from Conexant Systems, Inc.

Under the terms of the agreement, Ikanos purchased Conexant's Broadband Access product line for approximately $54 million in cash, excluding transaction costs, and the assumption of certain employee and facility related liabilities. Simultaneously, Ikanos received an investment of $42 million, excluding transaction-related expenses, from Tallwood Venture Capital, a leading investment firm focused on the semiconductor industry.

For the full press release, click here or visit http://www.ikanos.com/.

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