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Broadcom Completes BroadLight Acquisition

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Broadcom Corp. (BRCM: Quote) said Thursday that it has completed its acquisition of BroadLight, Inc., a provider of highly integrated networking and fiber access PON processors.

Broadcom paid about $195 million subject to certain adjustments, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of BroadLight. Additional consideration was reserved for future payment upon satisfaction of certain performance goals.

Excluding any purchase accounting related adjustments or fair value measurements, Broadcom expects the acquisition of BroadLight to be approximately neutral to earnings per share in 2012.

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by RTT Staff Writer

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While stocks have largely maintained a positive bias over the course of the trading day on Thursday, the major averages are turning in a mixed performance in mid-day trading. The S&P 500 has reached a new record intraday high and the Dow has climbed back above 17,000, while the tech-heavy Nasdaq is posting a modest loss. Suggesting that the economy is gaining traction, the Conference Board released a report on Thursday showing a bigger than expected increase by its index of leading U.S. economic indicators in July. Results of a survey released by the Federal Reserve Bank of Philadelphia on Thursday showed that regional manufacturing activity unexpectedly grew at an accelerated rate in the month of August, with the index of activity in the sector reaching a three-year high.
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