Wednesday, April 22, 2009
Conexant Sells Broadband Product Lines
Newport Beach-based Conexant Systems reported today that the firm has sold off its Broadband Access product lines to Ikanos Communications, in a deal worth $54M in cash. Conexant said that the product organization develops DSL, ADSL, and other broadband hardware. Conexant said the sale is part of a restructring effort by the firm, which is looking to focus on imaging, audio, video, and embedded modem applications. As part of the deal, approximately 400 Conexant employees will join Ikanos.