Conexant to Acquire Maker Communications

Newport Beach, CA-based semiconductor developer Conexant Systems is acquiring Maker Communications (Framingham, MA), a provider of programmable, high-performance network processors, software solutions, and development tools. Founded in 1994, Maker Communications Inc. is a fabless semiconductor company that is recognized as a pioneer in the network processor market. The combination will create one of the industry's broader portfolios of network processors and physical layer semiconductor products specifically designed for use in network infrastructures.

In the all-stock transaction, Maker shareholders will receive 0.66 of a share of Conexant common stock for each share of Maker common stock they own. At Conexant's closing stock price on Friday, December 17, the transaction is valued at approximately $990 million. The acquisition is expected to close within 90 days.

Conexant, through its Network Access Division, provides a portfolio of physical-layer communications products that include asynchronous transfer mode (ATM), T-1/E-1 and T-3/E-3 carrier, optical networking (SONET/SDH), digital subscriber line (DSL), and multiservice voice and data access concentration.

Edited by John Spofford