– Intel announced that it will acquire Level One Communications for $2.2bn in stock, a move that bolsters the chip giant’s position in the market for networking products. Sacramento-based Level One provides silicon connectivity products for high-speed telecom and networking applications and the deal is expected to allow Intel to become a major component supplier, providing communication equipment vendors with the silicon products needed for voice and data communications.
– Financial software provider Intuit struck a deal to acquire payroll services company Computing Resources for $200m in cash and stock. The purchase of Reno, Nevada-based CRI gives Intuit an immediate boost in its offerings to small businesses and comes in line with its stated goal of being an essential resource for that market, the company said. Under the terms of the deal, Intuit will acquire the privately-held CRI for approximately $175m in cash and $25m in Intuit stock.
– Lucent Technologies Microelectronics announced an agreement to acquire the Ethernet local area network (LAN) component business of Enable Semiconductor, a privately-held company based in Milpitas, California for about $50m in cash. Under the deal, Lucent will gain Enable’s portfolio of Fast Ethernet integrated circuits (ICs) and technology along with its 40-person strong development team. The new group said it aims to become one of the leading providers of standard and custom made fast Ethernet and gigabit Ethernet components for networking systems, from small- office network hubs to LAN and WAN switches.
– Sage, the UK-based accounting software company, announced plans to take over Tetra in an agreed 78.1m pound deal that will takes the company into the mid-market and expands its offerings to software for manufacturing companies. With revenues of 30.3m pounds in its last financial year, Tetra been described as an ERP player as its software covers not only financial but also distribution manufacturing and services.
– Amdocs, the St Louis-based customer care and billing software house, agreed to buy Canadian fellow telecoms software company Architel Systems in a stock swap valued at roughly $400m. The acquisition will provide a boost for Amdocs in the area of service provisioning and activation systems for telecommunications service providers – an addition that the company says will now allow it to offer a more or less complete package to its customers.
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