Tech Watch: PMC-Sierra to buy Passave Inc.

Based on analyst estimates and service provider announcements, it is estimated that between 45-60 million homes worldwide will be connected using Passive Optical Networking technology by 2010.

By SETH FREEDMAN
tech watch 88 (photo credit: )
tech watch 88
(photo credit: )
PMC-Sierra Inc. said Wednesday it signed definitive agreement to acquire Passave Inc., a leading developer of system-on-chip semiconductor solutions for the Fiber To The Home access market, for about $300 million in stock. Based on analyst estimates and service provider announcements, it is estimated that between 45 million and 60 million homes worldwide will be connected using Passive Optical Networking technology by 2010. The deal is expected to close within April 2006. PMC-Sierra expects the acquisition will be neutral to earnings in the near-term and accretive within two to three quarters based on expected revenue growth. Partner Communications has selected the Bank of New York to be the new depositary for its ADR (American Depositary Receipt) program. Traded on NASDAQ, each ADR represents one ordinary share of Partner stock. Bank of New York has a 64% market share of the ADR and GDR (Global Depositary Receipt) market. Radvision and Nortel have collaborated to demonstrate an innovative video community application at the CTIA Wireless 2006 Show in Las Vegas. Nortel will supply the core components for the product, which is based on Radvision's Interactive Video Platform. Ra'anana-based Emblaze announced the launch of emoze, a free Push-Email service for any device. Rivaling Research in Motion's Blackberry's products, the emoze system claims to "make email, diary and contact data available to anyone, anywhere" - and at no cost to users. The service will be compatible with any wireless GSM, CDMA or Wi-Fi network. Siano Mobile Silicon has raised around $23 million in Series B funding, through three Israeli venture capital firms and one from the US. Siano, which employs more than 40 persons, produces fabless semiconductors. In another financing, RadView Software Ltd. said it signed definitive financing agreements with Fortissimo Capital Fund GP LP. The agreements provide for a minimum initial investment of $1.5m. and, at the election of the investors, an additional investment of up to $2.25m. The financing will consist of both convertible preferred shares and convertible debt. Nova Measuring Instruments, meanwhile, said it had been targeted by a lawsuit alleging that the Rehovot-based had infringed patents belonging to Nanometrics Inc. Nova said the claims were meritless and pointed to its own patent infringement claim against Nanometrics, suggesting that this latest claim was a tactical ploy in the long-running battle between the two companies.