PMCS CEO Robert Bailey on CNBC.
(transcript from TVeyes)
Mark: A double dose of acqusitions for pmc sierra The canadian chip maker said on friday it was buying two privately-held semiconductor companies for a total of about us $1.3 Billion. The move is part of the firm's effort to expand its focus on networking chips. Wall street likes the plan. The firm's stock has moved from $17 to $200 in the past year. And today, atleast one investment bank is upping its target price on the firm to $250. Let's find out more about the company. Joining us now from phoeniz, arizona is robert bailey, ceo of pmc sierra Thank you for being with us.
>> Thank you for having me.
Mark: The acquisition us you made here, with for what purpose, what was driving them?
>>Well, right now what you have going on in this internet infrastructure build out is a kind of a land grab. And companies that are going to accumulate very sophisticated broadband technologies the quickest and can bring those to market the fastest are going to win. And pmc has been accelerating revenue growth and as a result accelerating the r&d development, excellent teams and had very synergistic and/or complimentary technologies and so we decided to buy them, make them part of the team.
Mark: When you say broadband, are you talking about wired networks, wireless networks or does it make a difference at your stage the food change --.
>> It doesn't really make a difference, although right now we are focused on wired networks. All a the naftion goes across copper or fiber cables.
>> Los angeles year, this is mike holland, you made an acquisition a of a company calls abrezio, how is that .....
Sorry, that's all I got. |
