PMC Sierra pays $300M to acquire semiconductor firm

PMC Sierra Inc has entered into an agreement to pay US$300 million to acquire Passave Inc, Santa Clara CA, a developer of system-on-chip semiconductor components for the fibre-to-the-home access market. The stock transaction gives PMC a major presence in the passive optical networking technology market segment and the ability to offer so-called triple play (voice, video, data) access solutions. PMC develops and markets high speed internetworking components. It maintains its corporate HQ in Santa Clara CA and its operations HQ in Burnaby BC….