Broadcom buys Athena Semiconductors

Broadcom Corporation is to acquire Athena Semiconductors, a fabless semiconductor company that designs and develops mobile digital television tuner and low-power Wi-Fi devices.

Both technologies complement Broadcom's existing mobile and wireless product portfolio, which includes mobile multimedia (including audio, video and 3G graphics), Wi-Fi, Bluetooth, VoIP, and 2G/3G cellular baseband products.

Athena Semiconductors, with headquarters in Fremont, CA, has design teams in Bangalore, India and Athens, Greece. The group in India consists of 40 engineers, the team in Greece 23.

In connection with the deal, Broadcom expects to pay approximately $21.6 million in cash in exchange for all outstanding shares of Athena capital stock and other rights of Athena.

The boards of directors of both companies have approved the merger, which is expected to close during Broadcom's fourth fiscal quarter which ends December 31.