Broadcom Maps Out GPS Buy
Broadcom (BRCM) jumps into global positioning with a $146 million deal for GPS chipmaker Global Locate.
The Irvine, Calif., communications-chip maker says the acquisition will allow it to incorporate GPS technology into mobile phones with a single chip product. GPS devices use satellites to determine user location. This technology allows for services like map navigation and 911 emergency response.
GPS is increasingly moving to cell phones as telcos spy new revenue opportunities by selling so-called location-based services. The GPS service plans for some phone companies are $10 a month and not included in the subscriber's data service plan.
Broadcom shares were down 39 cents to $30.35 in early trading Tuesday.
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