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Broadcom Closes NetLogic Purchase

IRVINE, Calif., and SANTA CLARA, Calif. — Broadcom Corporation (NASDAQ: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications, today announced it has completed its $3.7 billion acquisition of NetLogic Microsystems, Inc. (NASDAQ: NETL), a leader in high performance intelligent semiconductor solutions for next generation networks.

The combination enables Broadcom to deliver best-in-class, seamlessly integrated network infrastructure platforms to its customers, reducing both time-to-market and development costs. The addition of NetLogic Microsystems also extends Broadcom's infrastructure portfolio with key technologies, including multi-core embedded processor and knowledge-based processor solutions, both critical enablers of the next generation infrastructure build-out.

“The NetLogic acquisition is a significant milestone in Broadcom’s strategy to extend its communications infrastructure leadership and take advantage of the explosive growth in mobile and video traffic and the rise of cloud computing,” said Broadcom CEO Scott McGregor. “This acquisition adds a high-margin, high-growth business that strongly increases the addressable market of our infrastructure and networking business.”

Ron Jankov, former president and CEO of NetLogic Microsystems, joins Broadcom as a Senior Vice President and General Manager, reporting to Rajiv Ramaswami, Broadcom’s Executive Vice President and General Manager, Infrastructure & Networking Group. NetLogic Microsystems’ 700-plus employees will immediately become part of Broadcom.

The transaction, announced on September 12, 2011, cleared all required regulatory reviews and was approved by NetLogic Microsystems' stockholders. Broadcom will include NetLogic Microsystems' contribution to financial performance in the company's first quarter earnings announcement.

{complink 831|Broadcom Corp.}
{complink 3704|NetLogic Microsystems Inc.}

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