Cavium Networks Buys Celestial Semiconductor

Mountain View-based Cavium Networks said Monday afternoon that it has signed a definitive agreement to acquire Celestial Semiconductor, a developer of ARM-based systems-on-a-chip processors for the digital media area. Celestial Semiconductor is based in Beijing, China. Cavium said it will pay approximately $55M in cash and stock, plus up to $10M in earnout for Celestial Semiconductor.