Broadcom announced on November 29, 2006, that it had agreed to acquire privately held LVL7 Systems for about $62 million in cash. The deal was still pending then: although Broadcom forecast a close in the fourth quarter of 2006, its later SEC filing says the acquisition was completed in January 2007.
What LVL7 Systems did
LVL7 developed production-ready networking software for networking equipment makers: original equipment manufacturers (OEMs) and original design manufacturers (ODMs). Its software could help those companies reduce development expense and shorten the time needed to bring products to market, according to contemporaneous EE Times coverage of the announcement.
Broadcom singled out LVL7’s FASTPATH software as a way to strengthen its small- and medium-sized-business networking offering. The announcement coverage identified potential applications including wireless LAN switching and voice over IP (VoIP)—networking capabilities rather than consumer products being sold directly to households.
Why Broadcom said it wanted the company
Broadcom framed the acquisition as a way to combine LVL7’s software expertise with its own networking products, responding to customer demand for integrated hardware and software. The company said the combination could help customers develop products faster and at lower expense, add functionality to Broadcom’s network-switch offerings, and expand Broadcom’s technical and engineering capacity. These were Broadcom’s stated aims, not independently measured results.
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- The network adapter comes with low-profile bracket and full height bracket.8 cm low-profile bracket suitable for 2U chassis,the 12 cm full height bracket suitable for 3U common chassis
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- Automatic Detection and Correction of Pair Swaps, Pair Skew and Pair Polarity
- Network Operating Systems (NOS) Software Support: Windows* 2000; Windows* Server 2003; Windows* Server 2008; Windows Professional XP* SP3; Windows Vista* SP1; Windows 7; Linux* RHEL 4.6; Linux* Kernel version 2.6.24; Linux* Kernel version 2.4.36.2; RHEL* 5.1; SLES* 9 SP4; SLES* 10 SP1; FreeBSD* 7.0; DOS*; DOSODI*; SCO OpenServer 6/Unixware* 7.1.x; Novell Netware* 6.5; Xen*; FreeBSD* 5.x or later; ESX* 3.x* support (for VMware).
In the contemporaneous report, Ford Tamer, then senior vice president and general manager of Broadcom’s Enterprise Networking Group, said: “By combining LVL7’s software expertise with Broadcom networking products, we are addressing our customers’ growing demand for integrated hardware and software solutions.”
What Broadcom announced about the price and timing
At announcement, Broadcom expected to pay approximately $62 million in cash to acquire LVL7’s outstanding capital stock and vested stock options and to liquidate LVL7’s outstanding debt. Some cash consideration for stockholders was to be placed in escrow. The companies’ boards and LVL7 stockholders had approved the merger, but completion remained subject to customary closing conditions.
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- Flexible Installation Options: PCIe x4 interface, compatible with pci-e x8 and x16 slots, and comes with Low Profile Bracket for various chassis configurations
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| Milestone | What was reported |
|---|---|
| Agreement announced | November 29, 2006; Broadcom described a definitive agreement, not a completed acquisition. |
| Expected closing at announcement | Broadcom forecast a close during its fourth quarter ending December 31, 2006, subject to customary conditions. |
| Completion reported later | Broadcom’s subsequent SEC filing says the acquisition was completed in January 2007 for approximately $62 million in cash. |
The expected fourth-quarter date was a forecast, not the actual completion date. Broadcom’s filing is the source for the later completion timing and consideration; the transaction chronology is also reflected in its 2006 Form 10-K filed in 2007.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is known about LVL7’s size
Computerworld reported at the time that LVL7 had about 170 employees, split between Research Triangle Park, North Carolina, and Hyderabad, India, citing Broadcom spokeswoman Gennis Lafayette. That is a contemporaneous reported estimate, not an audited employee figure.
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