Cypress to Acquire Broadcom's Wireless Internet of Things Business

On April 28, 2016, Cypress Semiconductor and Broadcom Limited announced that they have signed a definitive agreement under which Cypress will acquire Broadcom's wireless Internet of Things (IoT) business and its related assets in an all-cash transaction valued at $550 million. Wilson Sonsini Goodrich & Rosati is representing Cypress in the transaction.

Under the terms of the deal, Cypress will acquire Broadcom's Wi-Fi, Bluetooth, and Zigbee IoT product lines and intellectual property, along with its WICED brand and developer ecosystem. The transaction has been approved by both companies' boards of directors and is expected to close in the third calendar quarter of 2016, subject to customary closing conditions and regulatory approvals.

The WSGR team representing Cypress in the transaction includes:

M&A:
Larry Sonsini
Mike Ringler
Alex Kingsley
Matthew Baudler
Shaherzad Azim

Finance and Structured Finance:
Andy Hirsch
Kathleen Rothman
Dana Hall

Technology Transactions:
Suzanne Bell
TJ Graham
Tracy Rubin
Brandon Palmen

Tax:
Ivan Humphreys
Andrew Bryant

Employee Benefits and Compensation:
John Aguirre
Jackie Tokuda
Michael Klippert

Real Estate:
Susan Reinstra
Kimberly McMorrow
Sean Wilkinson

For more information, click here to read the companies' joint press release.