Broadcom, a semiconductor manufacturer, has announced that it has signed a definitive agreement to acquire SC Square, a security software developer based in Israel in a deal worth $41.9 million.
It has been confirmed that the purchase price will be paid in cash.
The transaction remains subject to the satisfaction of closing conditions and is expected to close in Broadcom's second quarter, which ends in June.
A company release explained that the deal is part of its strategy to acquire innovative technologies and high-quality teams with a solid track record of execution.
Broadcom completed the acquisition of Provigent, a provider of highly integrated, high performance signal semiconductors, in April.
In other industry news, Applied Materials Inc, the world's largest maker of semiconductor fabrication equipment, has announced plans to buy Varian Semiconductor Equipment Associates Inc for $4.9 billion.
The acquisition is set to become the biggest local tech deal in the US this year.
Posted by Simon Jones