ATI to acquire NxtWave

ATI Technologies has entered into an agreement to purchase NxtWave Communications for $20 million cash.

A privately held company, NxtWave delivers broadband communications silicon using proprietary digital signal processing technologies adapted for applications in digital terrestrial and cable receivers.

The acquisition of NxtWave Communications will broaden ATI’s set-top box product portfolio to include demodulation technology in the front end communications, in addition to its back end solutions with ATI’s XILLEON products.

The addition of NxtWave’s technology will enable ATI to offer highly integrated chipsets to its set-top customers.

The purchase agreement is subject to customary closing conditions and the satisfaction of certain legal conditions.

The transaction is expected to close on June 28, 2002.

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