Broadcom Corp. (BRCM) announced that it has signed a definitive agreement to acquire Teknovus, a supplier of Ethernet Passive Optical Network or EPON chipsets and software. In connection with the acquisition, Broadcom expects to pay about $123 million to acquire all of the outstanding shares of capital stock and other rights of Teknovus.
The purchase price will be paid in cash, with a portion placed into escrow pursuant to the terms of the acquisition agreement. Excluding any purchase accounting related adjustments and fair value measurements, Broadcom expects that the acquisition of Teknovus will be about neutral to earnings per share in 2010.
The boards of directors of the two companies have approved the merger. The closing, which is expected to occur in the first or second quarter of this year, remains subject to the satisfaction of regulatory requirements and other customary closing conditions.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.