O.C. tech company pays $123 million for firm

March 8th, 2010, 10:00 am
Jan Norman, small-business columnist

Broadcom Corp., in Irvine, which provides semiconductors for communications, has bought Teknovus Inc., a Petaluma supplier of chipsets for broadband access, for $123 million in cash.

Teknovus has raised $66 million in equity funding from Lightspeed Venture Partners, Galleon Crossover Funds, Vision Venture Capital, Technology Alliance Investment, Itochu Technology Ventures, U.S. Venture Partners, Partech International, Focus Ventures, Samsung and Mitsubishi.

“Teknovus has a strong product and has established a solid reputation with our existing customers,â€