Broadcom To Buy Global Locate

Broadcom Corp. (Nasdaq: BRCM) has agreed to acquire Global Locate Inc., a San Jose, Calif.-based provider of A-GPS technology to the wireless industry. The deal is valued at up to $226 million, including a $146 million up-front cash payment, and up to $80 million in possible cash earn-outs. Global Locate has raised VC funding from firms like Siemens Venture Capital, GC Investments, Motorola Ventures Firsthand Capital Management and Third Point Offshore Fund.