Silke
08.01.2001, 15:08
Broadcom to Buy ServerWorks for $957 Million
NEW YORK (Reuters) - High-speed communications chip maker Broadcom Corp. (NasdaqNM:BRCM - news) said on Monday that it is buying integrated circuit supplier ServerWorks Inc. for $957 million to expand Broadcom's position in the high-speed communications market.
Broadcom said the purchase would add between two cents and three cents a share to Broadcom's earnings per share in each quarter of 2001. It also said it will issue 11 million shares in exchange for all of ServerWorks's shares outstanding.
Broadcom said it expects to close the deal within 60 days. The company's shares closed at $87 on the Nasdaq on Friday
NEW YORK (Reuters) - High-speed communications chip maker Broadcom Corp. (NasdaqNM:BRCM - news) said on Monday that it is buying integrated circuit supplier ServerWorks Inc. for $957 million to expand Broadcom's position in the high-speed communications market.
Broadcom said the purchase would add between two cents and three cents a share to Broadcom's earnings per share in each quarter of 2001. It also said it will issue 11 million shares in exchange for all of ServerWorks's shares outstanding.
Broadcom said it expects to close the deal within 60 days. The company's shares closed at $87 on the Nasdaq on Friday