Friday, November 19, 2010

Wintegra Acquisition Completes

The acquisition of Austin-based Wintegra, a developer of network processors for the mobile backhaul market, has completes, according to acquiring firm PMC-Sierra. PMC said the acquisition was worth $240M in cash, minus approximately $26M in cash acquired at closing, plus a possibility of an additional $60M in earn out. PMC-Sierra said its buy of Wintegra accelerates its offerisngs in the IP/Ethernet packet-based mobile backhaul market. Wintegra has around 165 employees, split between Austin and Ra'anana, Israel. The acquisition of Wintegra was originally announced on October 21st. Wintegra had been venture backed by Magma Venture Capital, Concord Ventures, Genesis Partners, Marvell Semiconductor, Texas Instruments, and Tenaya Capital, and was in the midst of an IPO attempt on the market.