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Technology Stocks : Alliance Semiconductor
ALSC 0.8100.0%Jul 10 5:00 PM EST
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To: Norrin Radd who wrote (4578)1/28/1999 4:00:00 PM
From: DJBEINO   of 9582
 
Alliance owned approximately 28.4% of Maverick's

Alliance approves Maverick merger
SAN JOSE -- Alliance Semiconductor Inc. today said it has approved the merger between Maverick Networks Inc. and Broadcom Corp., which was announced Wednesday (see Jan. 27 story).

Last February, Alliance invested in Maverick, a San Jose startup, and licensed technology to the company to assist it in developing integrated chips for multi-layer network switches. At the signing of the merger agreement, Alliance owned approximately 28.4% of Maverick's total outstanding shares.

As reported by Broadcom, the agreement has been approved by the boards of directors of both companies and is expected to close in approximately 90 days.

semibiznews.com
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