Broadcom, a developer of semiconductors for wired and wireless communications, will acquire Global Locate, a privately-held, fabless provider of global positioning system and assisted GPS (A-GPS) semiconductor products and software. The acquisition also includes Global Locate's World Wide Reference Network (WWRN) providing real time A-GPS data as well as Long-Term Orbit (LTO) solutions to provide assistance even when a network connection is not available. Broadcom expects to pay approximately $146 million net in cash at closing in exchange for all outstanding shares of capital stock and other rights of Global Locate. Additional consideration of up to $80 million in cash will be reserved for future payment to the former holders of Global Locate capital stock and other rights upon satisfaction of certain performance goals. Broadcom is a fabless semiconductor companies, with 2006 revenue of $3.67 billion.
