Notable Mergers and Acquisitions of the Day 4/22: CNXT/IKAN
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- Conexant Systems, Inc. (NASDAQ: CNXT) today announced that it has signed a definitive agreement to sell its Broadband Access product lines to Ikanos Communications, Inc. (NASDAQ: IKAN) for $54 million in cash.
Conexant's Broadband Access business provides solutions for DSL, ADSL, VDSL, SHDSL, and PON applications. The transaction, which is subject to customary closing conditions and regulatory approvals as well as approval by Ikanos shareholders, is expected to close in the fourth fiscal quarter.
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