Bath, UK: U.S. network semiconductor company Mindspeed Technologies has agreed to purchase Picochip, a supplier of SoCs for small cell basestations. The purchase price is $51.3 million, plus a potential earnout payment of up to $25 million payable in Q1 2013.
Together, Mindspeed and Picochip plan to roll out a comprehensive portfolio of basestation semiconductor solutions, from residential to enterprise to pico/metro applications. The transaction, approved by Mindspeed’s and Picochip’s boards of directors, is subject to certain closing conditions. Closure is expected in the first quarter of this year.