Broadcom acquires system-on-a-chip developer Percello

Semiconductor manufacturer Broadcom has completed the acquisition of Percello, a privately-held company that develops system-on-a-chip (SoC) devices for femtocells.

Broadcom paid approximately $86m (£54m) to acquire all of the outstanding shares of capital stock and other rights of Percello.

A portion of the cash consideration payable to the stockholders was placed into escrow and additional consideration was reserved for future payment upon satisfaction of certain performance goals.

Excluding any purchase accounting-related adjustments or fair value measurements, Broadcom expects the acquisition of Percello to be approximately neutral to earnings per share in 2011.