UPDATE 1- Broadcom to acquire Beceem for $316 mln

*Broadcom to acquire Beceem for $316 mln

*Deal accelerates 4G wireless connectivity offerings

NEW YORK, Oct 13 (BestGrowthStock) – Chip maker Broadcom Corp
(BRCM.O: ) agreed to acquire wireless platform company Beceem
Communications Inc in a bid to get a jump on fourth- generation
wireless connectivity for smartphones, computers, and consumer
electronics.

Broadcom said on Wednesday it would purchase the privately
held Beceem for $316 million in cash, except that portion
attributable to unvested employee stock options.

Broadcom expects the acquisition to be neutral to earnings
in 2011.

The transaction is expected to close sometime between the
end of the year and the end of March.
(Reporting by Jennifer Saba, editing by Gerald E. McCormick)

UPDATE 1- Broadcom to acquire Beceem for $316 mln