IRVINE, USA: Broadcom Corp. announced its subsidiary, Broadcom International Ltd, has agreed to terms with the board of Innovision Research & Technology PLC to make an all-cash offer to acquire all of the issued and to be issued shares of Innovision.
Innovision is a leader in near-field communication (NFC) technology.
Under the terms of the offer, Innovision shareholders will receive Pounds Sterling 0.35 (approximately $0.52) per share in cash for each Innovision share held, representing a total equity value of approximately $47.5 million based on current exchange rates. This offer represents an 84.2 percent premium above the closing price of Innovision common stock on June 17, 2010. Broadcom expects to close the acquisition of Innovision in the third quarter of 2010.
Friday, June 18, 2010
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