Semiconductor company Broadcom (Nasdaq: BRCM) is buying Ra'anana-based Percello Ltd., a privately-held company that develops system-on-a-chip solutions for femtocells.
Broadcom will pay about $86 million in cash (net of Percello's cash) for all the shares in Percello. In addition, up to another $12 million in cash will be reserved for future payment to the former holders of Percello capital stock and other rights based on meeting specific performance milestones.
A portion of the cash consideration payable to the stockholders will be placed into escrow to cover indemnity obligations.
Broadcom has three development centers in Israel - in Ramat Gan, Yakum, and Airport City.