Texas Instruments has snatched digital modem maker Amati from the jaws of merger with networking company Westell Technologies.
TI will pay $395 million, or $20 a share, for Amati, whose Digital Subscriber Line (DSL) high speed access technology will be integrated in future TI networking chips.
The giant also signed a joint development pact with Westell to develop DSL technologies. TI will incorporate the results of this collaboration, plus Amati's existing DSL, into its digital signal processing chips. It is banking on an explosion in the demand for DSL chipsets across the spectrum of the communications market.
Its offer price gazzumps Westell's bid, which was originally valued at $394, a figure that was cut by a decline in Westell's stock. But Westell will receive a $14.8 million termination fee and also gains from TI's vast distribution network.
TI gains licences for Amati's 'discrete multitone' technology for DSL communications and for Westell's high speed Internet access products. Digital signal processing is the main focus of TI's chip business following a reorganisation earlier this year that took it out of the memory and other over competitive areas.
Amati and TI have been working together for almost a year on a DSL chipset.
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