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Communication semiconductor maker Broadcom (NASDAQ:BRCM) said today it has agreed to acquire privately held system-on-a-chip solutions developer Gigle Networks for $75 million.
Gigle Networks’ technology is applied to home networking over powerline.
Broadcom said Gigle Network’s solutions will widen the breadth of its intellectual property, and enable the design of more highly integrated system-on-a-chip to allow whole-home network coverage in a wide variety of global deployment scenarios.
Broadcom shares are trading up 1.3% Monday.
Broadcom is the top stock in the iShares PHLX SOX Semiconductor Sector Index Fund (NASDAQ:SOXX), at 9.27% of the fund, followed by Texas Instruments (NASDAQ:TXN), at 8.8%. Applies Materials (NASDAQ:AMAT) is 7.64% of the fund, followed by Intel (NASDAQ:INTC), at 7.55%, and Marvel Technology Group (MRVL), at 6.82%.
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