(Adds Broadcom comment, details on GPS, dateline)
NEW YORK, June 12 Chip designer Broadcom Corp.
(BRCM.O) said on Tuesday it agreed to buy Global Locate Inc., a
privately held provider of global positioning system products
and software, for about $146 million.
Broadcom may record a one-time charge for purchased
in-process research and development expenses when the deal
closes, but has not yet determined the amount, the company said
in a statement.
GPS, a technology that helps identify location through
radio signals transmitted from a system of satellites, is used
in car navigation devices and is becoming an increasingly
popular feature on mobile phones.
"With the acquisition of Global Locate, Broadcom will be
the only semiconductor supplier in the world with top-tier
customers in Bluetooth, Wi-Fi, FM radio and GPS, four of the
key wireless technologies now being added to next-generation
mobile phones," Robert Rango, a Broadcom official, said in a
The boards of directors of both companies have approved the
deal, which is due to close during Broadcom's third quarter
that ends Sept. 30, it said.