PMC-Sierra Completes Acquisition of Wintegra

PMC-Sierra completed its previously announced acquisition of Wintegra, a privately-held developer of networking silicon. PMC-Sierra paid approximately $240 million in cash for the acquisition, less estimated cash and short-term deposits acquired of approximately $26 million at time of closing. Further, up to an additional $60 million of cash consideration may be paid if certain growth and performance milestones are reached by the end of 2011.

Wintegra’s WinPath family of network processors is used in 3G/4G base stations, fiber and microwave cell-site routers, as well as radio network controllers deployed globally in mobile networks.

Wintegra has approximately 165 employees located primarily in Ra’anana, Israel, and Austin, Texas.

The acquisition of Wintegra expands PMC-Sierra’s presence in Israel, where its FTTH business is based.
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