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Marvell Technology Group (MRVL)
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MRVL » Topics » Pending Acquisitions

This excerpt taken from the MRVL 10-K filed Apr 13, 2006.

Pending Acquisitions

On February 16, 2006, the Company completed the acquisition of the semiconductor division of UTStarcom, Inc. for $24.0 million in cash. The Company may pay an additional $16.0 million if certain defined milestones are achieved at various intervals through September 2006. The Company may also record a one-time charge for purchased in-process research and development expenses. The amount of that charge, if any, would be recorded in the Company’s first quarter of fiscal 2007, but has not yet been determined.

On February 21, 2006, the Company announced the signing of a definitive agreement to acquire the printer semiconductor business of Avago Technologies Limited. Under the agreement, the Company will pay $240.0 million in cash upon closing of the transaction. The Company may pay an additional $35.0 million if certain defined milestones are achieved at various intervals through October 2007. The Company may also record a one-time charge for purchased in-process research and development expenses related to the acquisition. The amount of that charge, if any, and the period in which it would be recorded has not yet been determined.

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