Ikanos Communications acquires Broadband Access product line from Conexant Systems

Ikanos Communications, Inc., a provider of broadband semiconductor and software products for the digital home, has entered into a definitive agreement to acquire the Broadband Access product line from Conexant Systems, Inc., a developer, designer, and seller of semiconductor system solutions. Both the companies are based in the US.

Announcement (April 22, 2009):

Ikanos Communications has entered into a definitive agreement to acquire the Broadband Access product line from Conexant Systems for $54 million in cash and the assumption of certain employee and facility related liabilities.

The transaction is expected to be completed in the third quarter of 2009.

Credit Suisse Group AG is acting as financial advisor to Conexant Systems. Fenwick & West LLP is acting as legal advisor to Ikanos Communications.

Deal Value (US$ Million) 54
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Completed: 2009-08-24

Deal Participants

Target (Company)   Conexant Systems, Inc. - Broadband Access Product Line
Acquirer (Company) Ikanos Communications, Inc.
Vendor (Company)   Conexant Systems, Inc.

Deal Rationale

The transaction would enable Ikanos Communications to gain greater scale, an expanded product line, deeper technical expertise, and a broader customer base.

Related terms: acquisition, advisor, bandwidth, communications, legal, products, semiconductors, software