Tech Company M&A Transactions
PCTEL Acquisition
PCTEL, based in Chicago, was bought by Conexant Systems. Conexant Systems said the transaction price was $19 million.
Transaction Overview
Company Name
Acquired By
Announced On
5/8/2003
Transaction Type
M&A
Amount
$19,000,000
M&A Terms
Conexant Systems, Inc. (Nasdaq: CNXT), and PCTEL, Inc. (Nasdaq: PCTI), today announced that Conexant has acquired PCTEL's soft modem operation. Under the terms of the agreement, Conexant will take over PCTEL's facilities in Milpitas, Calif., and Taipei, Taiwan, and retain key customer support resources in Austin, Texas, and Tokyo, Japan. Approximately 30 PCTEL employees will transfer to Conexant. The total value of the transaction could be as much as $19 million, depending on royalty payments. Other terms of the agreement were not made public. The agreement is subject to customary closing conditions and is expected to be completed in the next few days.
Company Information
Company Status
Acquired or Merged
Industry
Electronics
Mailing Address
8725 West Higgins Road 400
Chicago, IL 60631
USA
Chicago, IL 60631
USA
Phone
Website
Email Address
Not Recorded
Overview
PCTEL, is a leading provider of innovative and cost-effective Internet access solutions, 802.11 mobility software and software-defined radio products. PCTEL's products include analog soft modems, DSP-based modems, WLAN software products (Segue Product Line) that simplify installation, roaming, Internet access and billing.
Profile
Social Media
Company News
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Management Team
Title
Name
Email & Social
Chief Executive Officer
Marty Singer
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We do our best to report on tech company VC transactions. VC investment data records on this site come from news reports and company announcements. The data is sourced from VentureDeal.com, an affiliated venture.
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