Broadcom completed its acquisition of Zeevo, a provider of semiconductor solutions for Bluetooth wireless headset products, for $32.0 million -- approximately $31.3 million in cash consideration and $0.7 million in restricted stock units that entitle the holder to receive shares of Broadcom Class A common stock as the award vests.
Zeevo has introduced multiple generations of semiconductor and software solutions specifically optimized for the unique needs of stereo wireless headsets, all of which are shipping in volume production.
Broadcom is a leading supplier of semiconductor solutions for Bluetooth wireless applications and was first to market with a Bluetooth-qualified single-chip radio. Broadcom's Blutonium line of products includes devices for mobile phones, PCs and PDAs, as well as application-specific chips for cellular phones and wireless mouse and keyboard applications. The addition of Zeevo's products to the Blutonium portfolio will allow Broadcom to immediately offer solutions for the wireless headset segment of the Bluetooth market, a segment which analyst firm In-Stat/MDR estimates will grow to nearly 90 million units per year by 2008.
Zeevo is based in Santa Clara, California.
http://www.broadcom.com
http://www.zeevo.com
- In November 2003, Zeevo raised $20 in Series E funding led by Taiwan's Winbond Electronics and China Development Bank. Previous investors, Sequoia Capital, Raza Ventures, WK Technology Fund, Focus Ventures and Capitol Research also participated. This round brought total funding in Zeevo to $85 million since its founding in 1999.
