Semiconductor company Broadcom and NetLogic Microsystems today announced they have entered into a definitive merger agreement, with Broadcom to acquire NetLogic Microsystems for $50 per share, or about $3.7 billion.

The acquisition extends Broadcom's infrastructure portfolio with a number of new product lines and technologies, including knowledge-based processors, multi-core embedded processors, and digital front-end processors.

The transaction has been approved by the Broadcom and NetLogic Microsystems boards of directors and is subject to customary closing conditions, including the receipt of domestic and foreign regulatory clearances and the approval of NetLogic Microsystems' stockholders. The transaction is expected to close in the first half of 2012.

"With NetLogic Microsystems, Broadcom is acquiring a leading multi-core embedded processor solution, market leading knowledge-based processors, and unique digital front-end technology for wireless base stations that are key enablers for the next generation infrastructure build-out, " said Scott McGregor, Broadcom's President and CEO.