IRVINE, Calif., May 23, 2011 /PRNewswire/ -- Broadcom Corporation (Nasdaq: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications, today announced it has completed the acquisition of SC Square Ltd., a leading Israel-based security software developer.
In connection with the acquisition, Broadcom paid approximately $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 was paid in cash, with a portion of the consideration placed into escrow. Excluding any purchase accounting related adjustments and fair value measurements, Broadcom expects the acquisition of SC Square Ltd. to be dilutive to earnings for the remainder of 2011 by approximately $0.01.
Broadcom Corporation (NASDAQ: BRCM), a FORTUNE 500® company, is a global leader and innovator in semiconductor solutions for wired and wireless communications. Broadcom® products seamlessly deliver voice, video, data and multimedia connectivity in the home, office and mobile environments. With the industry's broadest portfolio of state-of-the-art system-on-a-chip and embedded software solutions, Broadcom is changing the world by Connecting everything®. For more information, go to www.broadcom.com.
Safe Harbor Statement of Broadcom Corporation under the Private Securities Litigation Act of 1995:
All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. Examples of such forward-looking statements include, but are not limited to, references to the impact of the acquisition on Broadcom's earnings per share. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
Important risk factors that may cause such a difference for Broadcom in connection with the acquisition of SC Square include, but are not limited to unexpected variations in market growth and demand for secure operating systems and related technologies, the risks inherent in acquisitions of technologies and businesses, including the timing and successful completion of technology and product development through volume production, integration issues, costs and unanticipated expenditures, changing relationships with customers, suppliers and strategic partners, potential contractual, intellectual property or employment issues and charges resulting from purchase accounting adjustments or fair value measurements.
Our Annual Report on Form 10-K for the year ended December 31, 2010, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss the foregoing risks as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. The forward-looking statements in this release speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement to reflect future events or circumstances.
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SOURCE Broadcom Corporation; BRCM Corporate