Sunday, August 23, 2009

Ikanos Completes Acquisition of Conexant Broadband Access Line

Ikanos Communications completed its previously announced acquisition of the Broadband Access product line from Conexant Systems, for approximately $54 million in cash, excluding transaction costs, and the assumption of certain employee and facility related liabilities. Simultaneously, Ikanos received an investment of $42 million, excluding transaction-related expenses, from Tallwood Venture Capital, a leading investment firm focused on the semiconductor industry.

In addition, Craig Garen, former senior vice president and general manager of Conexant's Broadband Access, has joined the Company as Chief Operating Officer.