Silicon Image to buy SiBeam for $25.5m in cash and stock
Silicon Image (NASDAQ:SIMG), a company that provides high-definition connectivity products for consumer electronics, said Thursday it has agreed to acquire privately-held SiBeam for $25.5 million in cash and stock.
Sunnyvale, California-based SiBeam's high speed wireless communication technology is used to transmit uncompressed high definition video for consumer electronics and personal computer applications.
"The acquisition of SiBEAM underscores our stated mission to be the leader in advanced video connectivity solutions and SiBEAM's 60GHz wireless technology will enable us to rapidly bring the highest quality of wirelessly transmitted HD video and audio to market," said CEO of Silicon, Camillo Martino.
California-based Silicon said it expects the acquisition will be dilutive to adjusted earnings by $0.06 to $0.08 in 2011, and neutral in 2012.
The deal is expected to close in the second quarter.
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