The acquisition by Broadcom Corporation of HotHaus Technologies Inc., a Vancouver, British Columbia-based leader in embedded digital signal processing software has closed. Acting for HotHaus was Bull, Housser & Tupper led by corporate partners, Billy Garton and William McFetridge. U.S. counsel was provided by Gary Kocher of Seattle's Preston, Gates & Ellis LLP. Broadcom's counsel was Brobeck Phleger & Harrison LLP of San Francisco. Lead partner was Steve Camahort with assistance from associates Scott Karchmer and Angela Hilt. Canadian counsel to Broadcom was Farris, Vaughan, Wills & Murphy led by corporate partner Hector MacKay-Dunn with assistance from corporate associates Teresa Budd and Alan Shuster.
The transaction was significant in British Columbia as it represents one of the largest acquisitions of a British Columbia-based high technology company in recent years. The acquisition was structured as a share exchange (Broadcom's stock is traded on Nasdaq) and based on the closing market price, the transaction value was US$280 million.