Sources inform ''Globes'' that Broadcom Inc. (Nasdaq:BRCM) has acquired Israeli start-up Octalica Inc. for $35 million.
Octalica was founded in 2001 and raised $10 million in three financing rounds. The company acquired the intellectual property of Tiaris in 2004 for an undisclosed sum. The company’s investors include Cedar Fund as part of its pre-seed program in which it helped the company develop its product, Genesis Partners, Giza Venture Capital, Stage One Ventures, and Fishman Holdings subsidiary Globescom Ltd.
This is Cedar Fund’s second major exit in recent months, after the IPO of BigBand Network Inc. (Nasdaq:BBND). It is also the seventh exit by the Genesis II Fund.
Octalica develops digital home entertainment networking products that allow consumers to enjoy an IP-based, high definition TV experience anywhere throughout the home. The products use multimedia over coax standard, and the company is a member of the Multimedia Over Coax Alliance (MOCA). The company’s team specializes in coaxial, xDSL, and WiFi (MIMO) infrastructures, and its system-on-a-chip (SOC) products are designed for network communications.
Published by Globes [online], Israel business news - www.globes.co.il - on May 3, 2007
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