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Components | May 10, 2011

Broadcom to acquire SC Square

Broadcom Corporation has signed a definitive agreement to acquire SC Square Ltd., a security software developer based in Israel.
In connection with the acquisition, Broadcom expects to pay approximately USD 41.9 million, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of SC Square Ltd. The purchase price will be paid in cash, with a portion of the consideration placed into escrow pursuant to the terms of the acquisition agreement.

The boards of directors of the two companies have approved the acquisition. The transaction remains subject to the satisfaction of closing conditions and is expected to close in Broadcom's second quarter, ending June 30, 2011.

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