Broadcom Corporation and NetLogic Microsystems have entered into a definitive merger agreement where NetLogic shareholders will receive $50 per share in a transaction of approximately $3.7 billion, net of cash assumed.

The acquisition extends Broadcom’s infrastructure portfolio with knowledge-based processors, multi-core embedded processors, and digital front-end processors.

The transaction has been approved by the Broadcom and NetLogic boards of directors and is subject to customary closing conditions, including the receipt of domestic and foreign regulatory clearances and the approval of NetLogics’ stockholders.

The transaction is expected to close in the first half of 2012.

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