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News Breaks
June 2, 2014
15:41 EDTBRCMBroadcom exit from baseband no surprise, says Piper Jaffray
Piper Jaffray is not surprised to see Broadcom plan to exit its baseband business, which had become a drag on margins and profitability, but the firm sees a wide range of potential outcomes as the exit takes shape. Piper maintains its Neutral rating and $34 price target on the stock as it waits for more clarity on next steps for the unit.
News For BRCM From The Last 14 Days
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September 20, 2015
21:07 EDTBRCMDialog to acquire Atmel in move towards Internet of Things
Atmel (ATML) reached an agreement Sunday to be acquired by Dialog Semiconductor in a deal valued at approximately $4.6B, or the equivalent of $10.42 per Atmel share. Jalal Bagherli, CEO of U.K.-based Dialog, remarked that the combined company will be "a diversified, high-growth market leader" in chips for mobile devices, connected vehicles, and the Internet of Things. In a subsequent Bloomberg interview regarding the deal, Bagherli explained, "We passed the computing era, we're at the height of the mobile era, and we're about to enter the IoT era." The news comes after several semiconductor mergers in 2015 amid slowing growth and saturated markets, with Intel (INTC) agreeing in June to acquire Altera (ALTR) and Avago (AVGO) striking a deal in May for Broadcom (BRCM). Note also China's apparent desire to control companies in the space, evidenced by state-owned firms China Electronics Corp. and Tsinghua's respective pursuits of Atmel and Micron (MU).

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