Atheros Communications, a Nasdaq-listed maker of communications semiconductors, has agreed to acquire Opulan Technologies, a China-based peer backed by strategic investor TranSwitch.
Atheros is paying $72m in cash, plus possible cash earn-outs if targets are met over the next 12 months.
Opulan has raised funding from Greater China-focused venture capital firm AsiaVest Partners, incubator and venture fund Acorn Campus Ventures, development group Enspire Group, US-based VC KLM Capital Group and US-based communications network equipment provider TranSwitch. The target company last raised $10m from AsiaVest in May 2006.
Craig Barratt, president and chief executive officer of Atheros, said: "This is another important step in Atheros’ strategy to make it easier for consumers to connect and consume rich media on more and more devices. Opulan’s world-class team also brings additional engineering leadership and strong customer relationships in Asia."
Atheros also said its revenue in the second quarter was a record $238.2m, up 112% compared to $112.2m reported in the second quarter of last year as sales of its Wi-Fi chips climbed 10-fold to 500 million over the past 18 months.