Broadcom Buys LTE Assets From Renesas Electronics

Irvine-based Broadcom is buying a collection of assets form Tokyo-based Renesas Electronics Corporation, in a deal worth approximately $164M, the firms said today. According to the two, Broadcom is acquiring assets and shares of Renesas Electronics' LTE modem technology subsidiaries and assets. The move came after Renesas said in June that it would stop development activities and sales of its LTE wireless modems, and work on selling the business.