Broadcom Completes Global Locate Acquisition

Semiconductor vendor Broadcom has completed its acquisition of Global Locate, a San Jose-based developer of global positioning system (GPS) and assisted-GPS chipsets. The deal was worth $143M in cash plus up to $80M in earn out. Global Locate was venture backed by Firsthand Capital Management, GC Investments, Motorola, Siemens Venture Capital and Third Point Offshore.