Tuesday, November 28, 2006

Broadcom to Acquire LVL7 Systems for Networking Software

Broadcom agreed to acquire LVL7 Systems, Inc., a privately-held developer of networking software for OEMs and ODMs, for approximately $62 million in cash.

LVL7 Systems' FASTPATH software offers the features and protocols needed to build a variety of Layer 2 / 3 / 4+ Ethernet infrastructure systems. Target applications include desktop and workgroup switches; server blade switches; WLAN switches; and switch/router systems.

Broadcom said LVL7's FASTPATH family of software would enhance its existing product offering in the small-to-medium-sized business (SMB) market segment.

LVL7 is based near Research Triangle Park, North Carolinahttp://www.broadcom.comhttp://www.lvl7.com

  • LVLT is headed by Erik Dixon, who previously was responsible for IBM's Ethernet networking product line.

  • In February 2005, LVL7 Systems raised $21 million in Series C funding for its networking software. The oversubscribed funding round was led by Silicon Valley-based venture capital firm USVP. The funding round also included participation from Lighthouse Capital Partners and LVL7's previous investors: The Carlyle Group, Gabriel Venture Partners, H.I.G. Ventures, and Research Triangle Ventures.