Broadcom and QLogic Announce Sale and Purchase of Certain Ethernet Controller-related Assets and Entry Into ASIC Partnership

IRVINE, Calif. & ALISO VIEJO, Calif.--(BUSINESS WIRE)--Broadcom Corporation (NASDAQ: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications, and QLogic Corporation (NASDAQ: QLGC), a leading supplier of high performance network infrastructure solutions, today announced a definitive agreement under which QLogic will acquire certain 10/40/100Gb Ethernet controller-related assets and non-exclusive licenses to certain intellectual property relating primarily to Broadcom’s programmable NetXtreme® II Ethernet controller family. Total deal consideration is approximately $147 million in cash. In connection with the transaction, Broadcom and QLogic will enter into a long-term supply agreement whereby Broadcom will become ASIC supplier to QLogic in support of the NetXtreme II product line.